Upbeat
No. 04.14.14 No. 2107 10.30.2008
MBC sees brighter prospects for PHL economy Most Makati Business Club (MBC) members see bright prospects for the economy and their businesses as they expect the strong gross domestic product (GDP) growth posted last year to be sustained this year. MBC members see brighter prospects in investments, exports, and imports as the drivers of this year’s economic expansion, MBC Executive Director Peter Angelo V. Perfecto said. The MBC’s First Semester 2014 Executive Outlook Survey which polled 73 business executives from 3 February to 6 March, showed that over 52% expect the country’s economic growth this year to remain at the same level as 2013’s 7.2%. T rade and Industry Information Center Makati City, Philippines Tel.: (632) 895.3611 Fax: (632) 895.6487 publications@dti.gov.ph Copies available upon request.
The survey noted that 30% of the respondents expect the economy to expand at a faster pace this year.
Majority of the respondents see higher revenues and net profits with last year's economy seen to sustain its strong performance this year. The survey also noted that over 78% of respondents project their company’s gross revenues to rise above 2013 levels by an average of 18%, while none expect a decline this year. Over 67% of respondents anticipate an average 17-% increase in terms of net income. Additional investments are also being made with close to 51% of the respondents saying they would pour in additional funds this year at an average amount of P520.4M, as many companies project higher revenues and net income. Over half of the firms intend to expand their labor force by close to 15% and more than 41% will retain their number of workers. “None of our member companies plan to lay off or downsize their workforce this year,” Perfecto said. Meanwhile, over 64% expect the country’s headline inflation rate this year to be higher than last year’s average of 3%, as for its outlook on consumer prices. Most companies or 73% of the respondents are also upbeat the country would attract more investors this year with approved investment pledges seen to surpass last year’s levels. Majority or over 64% also have a positive outlook on the country’s merchandise trade with exports this year seen to beat 2013’s USD 54B.