Businesses more pessimistic in Q3: BSP survey

MANILA - Businesses have turned pessimistic while consumers' outlook was less pessimistic as shown in the latest business and consumer expectation surveys of the Bangko Sentral ng Pilipinas released Friday.

Metro Manila's return to tighter restriction in early August was reflected in the business confidence survey but not in the consumer survey, the BSP told reporters. “I’d say that the expectation ever since this pandemic started, both consumers and businesses were expecting it to be of shorter duration than what it had actually endured. The expectations are on the whole, being revised downwards for the current quarter," Dakila said.

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