Filipinos upbeat on economy–SWS

MANILA, Philippines—Filipinos remain confident that their lives will improve this year and even more heartened about the economy, according to the latest Social Weather Stations survey.

The 4th quarter 2011 Social Weather Report, which tracks trends in personal quality of life and optimism about the economy, showed that more than a third of adult Filipinos (37 percent) expect their lives to improve in the year ahead, while only eight percent expect otherwise, for a “high” net personal optimism of plus 29.

The survey, conducted from December 3 to December 7, also showed that 30 percent of Filipinos expect that the economy “will be better” in the year ahead, while 16 percent expect it “will be worse,” for a “very high” net economic optimism of plus 14.

Net optimism is the difference between the percentage of optimists and pessimists. 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.”

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”.

Fewer Filipinos, however, said their lives improved over the past year—only 22 percent (gainers) against the 32 percent who said their lives worsened (losers), for a “mediocre” net gainers score of minus 10 (gainers minus losers).

Net economic optimism  declined in all regions and almost all classes, the SWS said.

Across geographical areas, net personal optimism was “very high” in Metro Manila (plus 35) and Balance Luzon (plus 35) and “high” in Mindanao (plus 25). It was “fair” in the Visayas at plus 17, lower than the plus 24 posted in September 2011.

Among socio-economic classes, it was “very high” in class ABC (plus 47) and class D (plus 31). It was “fair” among class E at plus-19, lower than the plus 28 registered in September 2011.

Meanwhile, net economic optimism across geographical areas was “very high” in Metro Manila (plus 21, against the plus 22 in September), Balance Luzon (plus 16, down from plus 27) and Mindanao (plus 14, down from plus 21), while it was “high” in the Visayas (plus 4, down from plus 9).

Net economic optimism was “very high” across socio-economic classes. While the plus 24 score among class ABC was similar to that posted in the previous survey, the net economic optimism score among class D fell to plus 14 from  plus 22, and from plus 20 to plus 12 among class E.

The net gainers score worsened in Metro Manila (from minus 8 to minus 14), the Visayas (from minus 15 to minus 21) and Balance Luzon (from minus 2 to minus 8). In Mindanao, it was minus 5 (from minus 7 in September).

Across socio-economic classes, the net gainers score from plus 24 to plus 21 among class ABC, but improved from minus-5 to minus-8 among class D, and from minus-20 to minus-24 among class E.

The survey used face-to-face interviews with 1,200 respondents. It had a margin of error of plus-or-minus 3 percentage points. Inquirer Research