Retail in Asia

In People

More firms plan to expand in the Philippines, hire in 2Q, shows BSP survey

A survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed that more companies in the Philippines are planning to expand their operations and hire more workers in the second quarter of the year in anticipation of a strong economic rebound.

Rosabel Guerrero, director of the central bank’s Department of Economic Statistics (DES), said the Business Expectations Survey for the first quarter of 2012 showed the number of firms with expansion plans continued to increase while employment outlook is more robust for the second quarter.

Guerrero said the number of respondents that indicated expansion plans for the next quarter increased to 28.8 percent from a quarter-ago level of 27 percent.