Seasonal factors and the impact of higher taxes, among other factors, have led to lower business optimism for the first quarter, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
The confidence index (CI) — computed as the percentage of companies that answered in the affirmative minus those who replied otherwise — fell to 39.5 percent from 43.3 percent three months earlier, results of the BSP’s latest Business Expectations Survey (BES) showed.
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