By Antonio L. Colina IV
Davao City – Businesses in the three-province Zamboanga Peninsula and five-province Davao Region will continue their positive outlook in the third quarter of 2018 partly due to the commencement of new government infrastructure projects, according to the second quarter Business Expectations Survey (BES) of the Bangko Sentral ng Pilipinas.
The BSP also attributed the favorable business outlook to the improved weather forecast from July to September and the influx of tourists during the Kadayawan Festival in Davao City in August 2018
However, the BSP’s forecast for the rest of the country’s regions was less favorable in the same quarter as “more firms anticipated the seasonal slack in demand during the rainy season.”
The survey was a result of BSP’s quarterly survey of firms from the combined list of the Securities and Exchange Commission’s Top 7,000 Corporations in 2010 and Business World’s Top 1,000 Corporations in 2016.
It added exporters and dual-activity firms anticipated that the volume of production and orders would be sustained for the next quarter, resulting in a steady outlook.
But importers and domestic-oriented firms were less optimistic as they noted that their operations could be adversely affected by the seasonal slack in domestic demand, stiffer competition, rising fuel prices, and possible foreign exchange losses due to the peso depreciation.