The latest results showed optimism amongst entrepreneurs weakened due to the upsurge in COVID-19 cases, the reimposition of stricter quarantines, and elevated inflation due to supply problems, particularly with food items, the Bangko Sentral ng Pilipinas said in a statement.
Construction, however, was more optimistic as contractors remained confident in the government’s promise to resume its ramped up infrastructure spending under the Build Build Build program, data showed. Consumers, on the other hand, were a bit more optimistic, particularly for their prospects in the third quarter. They are expecting more jobs and permanent employment, and additional or higher income.
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