"The percentage of firms that expressed expansion plans for the next quarter decreased across all industry sub-sectors, except for the agriculture, fishery and forestry sub-sector," the BSP added. More enterprises in the agriculture, fishery and forestry sub-sector announced plans to expand over the next 12 months, while the percentage of firms in the manufacturing sub-sector remained relatively stable. In the fourth quarter, the poll found a favorable employment outlook 6.2 percent, picking up from 5 percent in the previous survey. "The higher positive readings suggest that firms are looking forward to hiring more people for Q4 (fourth quarter) 2021 and the next 12 months," the Bangko Sentral further said. The confidence index, which reflects a company's outlook for future growth, improved to 31.9 percent for the fourth quarter, up from 31.4 percent the previous quarter.

Source: Manila Times September 26, 2021 12:22 UTC