Fewer Pinoys see better economy

MANILA, Philippines - Fewer Filipinos expect the economy to get better in the next 12 months, a recent survey by the Social Weather Stations (SWS) showed.

The Second Quarter 2014 Social Weather Survey showed 26 percent of Filipinos remained optimistic that the general Philippine economy would get better next year, while 24 percent said it would deteriorate, for a net optimism score of 2.

SWS said this was seven points below the high 9 (28 percent optimistic, 19 percent pessimistic) in the previous quarter.

This was the lowest net economic optimism score under the Aquino administration since net zero in December 2009, the SWS noted.

“The seven-point decline in national net optimism about the economy was due to decreases of seven points in Mindanao and four points in Metro Manila, combined with an increase of six points in the Visayas and a steady score in balance Luzon,” the pollster said.

Net optimism about the economy rose by one grade from high to very high in the Visayas, from 7 in March to 13 in June.

However, it fell by one grade from very high to high in Mindanao, from 14 in March to 7 in June.

It fell by one grade from high to fair in balance Luzon, from 8 in March to -1 in June.

It fell by three grades from very high to mediocre in Metro Manila, down sharply by 24 points from 10 to -14, the lowest since -18 in February 2009.

Meanwhile, the survey found 39 percent of Filipino adults expecting their personal quality of life to improve in the next 12 months and eight percent expecting it to get worse, for a net personal optimism score of 31.

This was up by one grade from the 29 (38 percent optimists, nine percent pessimists) in March 2014.

The survey research institute said very high net personal optimism was recorded in Metro Manila, balance Luzon and Mindanao.

The two-point rise in national net personal optimism from a high 29 to a very high 31 was due to increases of seven points in Mindanao, four points in Metro Manila and three points in the Visayas, combined with a steady score in balance Luzon.

It said very high net personal optimism scores were registered in classes ABC and D, and high in class E.

On the change in personal quality of life compared to 12 months ago, the June 2014 survey found that 22 percent said their lives improved and 37 percent said it worsened, for a mediocre net gainers score of -14.