Philippine business confidence broadly steady for Q1

Confidence among businessmen in the Philippines was broadly steady for the first three months of this year, following a decline in Q4 2016. The sentiment of businesses in the Philippines mirrored the steady business outlook in France and the euro area. The overall confidence index declined slightly at 39.4% for Q1 2017 from 39.8% for Q4 2016. Business confidence remained steady as a number of respondents expressed apprehensions over a number of factors, including the effects of the economic policy of the Trump administration to the business process outsourcing industry. For the next quarter, business outlook improved, with the CI rising to 47.2% from 34.5% predicted in the last quarter’s survey.