Fewer firms in the Philippines keen on expansion

Fewer companies within the Philippines are eager on increasing their operations in 2Q2022, revealed a survey carried out by the central financial institution of the Philippines. 

The share of companies planning on an growth has dropped to twenty.8% from 23.2% within the earlier survey.

“For the subsequent quarter, the proportion of corporations within the manufacturing and the electrical energy, fuel and water sub-sectors that reported growth plans decreased, whereas the proportion of corporations within the mining and quarrying and agriculture, fishery and forestry with growth plans elevated,” famous the central financial institution, in response to The Manila Instances. 

“For the subsequent 12 months, the proportion of corporations within the manufacturing and agriculture, fishery and forestry with the intention of increasing enterprise operations declined,” it added.

In distinction, there was a rise within the proportion of companies within the mining and quarrying and utilities sector planning to develop operations within the subsequent 12 months.

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The survey additionally discovered that 24.7% of respondents are hopeful about job prospects within the upcoming quarter, up from 24.5% within the earlier survey.  Nevertheless, the proportion of respondents who had been much less hopeful about job prospects over the subsequent 12 months fell from 32.4% to twenty-eight.9% within the earlier survey.