Business confidence falls in Q3

Posted at 08/31/2012 10:21 AM | Updated as of 08/31/2012 2:00 PM

MANILA, Philippines - Business confidence fell for the first time in five quarters.

A new survey by the Bangko Sentral shows businessmen are less optimistic about growth and expansion prospects in the third quarter, with the confidence index at 42.5%.

Based on the survey, businessmen are concerned about rising oil prices and the bad weather which could disrupt production.

They're also worried about the slowdown in China, the US and the euro zone, which are key export markets of the Philippines.

Exporters who responded to the survey were the least optimistic. - ANC