Palace Glad by Very High Optimism of PHL Companies

Manila (PNA) – Malacanang is pleased by reports about the very high optimism of Philippine companies based on the Thomson Reuters/INSEAD Asian Business Sentiment Index report.

”We should all be happy with this report,” Presidential Communications Operations Office (PCOO) Secretary Herminio ‘Sonny’ Coloma Jr. said in an interview with state-run Radyo ng Bayan on Thursday.

According to the Thomson Reuters/INSEAD Asian Business Sentiment Index, the Philippine companies were the most optimistic toward the coming half-year in Asia.

The Reuters’ report said 6 of 11 saw sales rise in July-September, while data issued ahead of polling showed government spending helped the economy defy a regional slowdown in April-June.

From the surveyed respondents, three cited the political situation ahead of a May election as a risk to their outlook while two flagged rising competition and one was concerned about passing on higher raw materials costs.

Coloma said the report will serve as inspiration for the government to work harder to boost further business activities in the Philippines.

”It will create more jobs and increase more trade and business activities in our country. Our people will benefit from these because it would mean a progressive economy,” he said. (PNA) FPV /JFM