More Filipinos optimistic about economy
MANILA, Philippines—More Filipinos are upbeat about the economy even as the level of optimism with regard to the quality of their lives barely changed, a recent Social Weather Stations survey showed.
In the Sept. 26 to 29 survey, 30 percent of the respondents said the economy would perform better in the next 12 months, while 19 percent said it would get worse, resulting in a “very high” net economic optimism score (optimistic minus pessimistic) of plus 11. The latest score marked an improvement from the “high” plus 2 (26 percent optimistic minus 24 percent pessimistic) seen in June.
The Philippine economy grew 6 percent in the first half. Last year, the economy, as measured by gross domestic product, grew by 7.2 percent—faster than any other country in Southeast Asia and second only to China on the continent. The government wants to drive GDP growth to 6.5 to 7.5 percent this year.
SKYLINE OVER POVERTY LINE The towering buildings are at the heart of Makati City, while the shanties are along an estero in Pasay City. INQUIRER FILE PHOTO
SWS found 39 percent saying they expected positive changes in the quality of their life in the next 12 months while 9 percent said otherwise, for a still “very high” plus 30 net personal optimism score, just a point lower than the plus 31 (39 percent optimistic minus 8 percent pessimistic) in June.
The survey, first published in BusinessWorld, used face-to-face interviews with 1,200 adult respondents nationwide and a margin of error of plus-or-minus 3 percentage points.
Net economic optimism scores of plus 10 and above are considered “very high”; plus 1 to plus 9, “high”; minus 9 to zero, “fair”; minus 19 to minus 10, “mediocre”; minus 29 to minus 20, “low”; and minus 30 and below, “very low.”
Net personal optimism scores of plus 30 and above are considered by SWS to be “very high”; plus 20 to plus 29, “high”; plus 10 to plus 19, “fair”; plus 1 to plus 9, “mediocre”; minus 9 to zero, “low”; and minus 10 and below, “very low.”
Asked about the quality of their life over the past 12 months, 26 percent said it had improved (gainers) while 34 percent said it had worsened (losers), for a “fair” minus 8 net score (gainers minus losers), better than “mediocre” minus 14 (22 percent gainers minus 37 percent losers) in the previous quarter.
SWS uses the same classification for net gainers score and net economic optimism score.
By geographical areas and socioeconomic class, net economic optimism rose from minus-14 to plus-5 in Metro Manila, from minus-1 to plus-11 in Luzon outside Metro Manila, from plus 7 to plus 12 in Mindanao, from plus 3 to plus 14 in classes ABC, from plus 1 to plus 9 in class D and from plus 6 to plus 14 in class E. It remained at plus 13 in Visayas.
On the other hand, net personal optimism increased in Metro Manila, from plus 33 to plus 35, and in Luzon outside Metro Manila, from plus 32 to plus 34. It declined by 10 points, from plus 27 to plus 17, in Visayas and by two points, from plus 33 to plus 31, in Mindanao.
Further, net personal optimism decreased across all socioeconomic classes—from plus 38 to plus 34 among classes ABC, from plus 32 to plus 31 among class D and from plus 28 to plus 26 among class E.
The net gainers score improved in Luzon outside Metro Manila, from minus 14 to minus 4, and in Visayas, from minus 33 to minus 11, while it worsened in Mindanao, from minus 3 to minus 14. It was steady in Metro Manila, from minus 9 to minus 8.
Across socioeconomic classes, the net gainers score jumped from 0 to plus 15 among classes ABC and from minus 24 to minus 5 among class E while it was up by two points from minus 13 to minus 11 among class D. Inquirer Research
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