BUSINESS CONFIDENCE fell to its weakest in more than 25 years in March as firms turned pessimistic on expectations that higher fuel costs from the Middle East conflict would curb consumer spending, a central bank survey showed.
Results of the Bangko Sentral ng Pilipinas’ (BSP) monthly business expectations survey (BES) showed the current-month confidence index (CI) plunged to -24.3% from 8.2% in February.
A negative CI shows that more respondents are pessimistic than optimistic.
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