Business confidence in the Philippines recovered to neutral territory in June after three straight months of pessimism, according to a report by Philstar Biz, citing the Bangko Sentral ng Pilipinas (BSP).
The improvement in sentiment was driven by lower energy costs and stronger consumer spending, which brightened firms' outlook for the period. The BSP's business expectations survey measures how companies view current and future economic conditions, and a return to neutral suggests businesses are no longer leaning toward a negative outlook.
The turnaround marks a shift from the pessimistic readings recorded in the previous three months. The BSP closely monitors business confidence as part of its assessment of overall economic momentum and inflation pressures.