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SWS: Two of five Filipinos see bleaker economy in next 12 months

Two out of five adult Filipinos or 40% expect the Philippine economy to worsen in the next 12 months, the results of a recent Social Weather Stations (SWS) survey showed.

In its July 3 to 6 National Mobile Phone Survey, SWS found that 24% of adult Filipinos are expecting the economy to stay the same, while 30% believe it will improve in the next 12 months.

The SWS said the 40%, who are considered as economic pessimists, is the highest in over 12 years, since the 52% in June 2008.

The 30% economic optimists, meanwhile, is the lowest in over five years, since the 27% in March 2015.

The SWS also pointed out that net economic optimism or the expectations about the general Philippine economy declined to -9, which is considered as “mediocre.” The figure is 47 points below the “very high” +38 in December 2019 and the lowest since the “low” -19 in February 2009.

The SWS said the decline was due to the point decrease in Visayas, Mindanao, Balance Luzon and Metro Manila.

Net economic optimism fell in the Visayas from “very high” +33 in December 2019 to “extremely low” -30 in July 2020. In Mindanao, the figure declined from “very high” +37 to “mediocre” -7.

In Balance Luzon, meanwhile, the net economic optimism fell from “very high” +37 to “mediocre” -5. The figure also declined in Metro Manila from “very high” +39 to “mediocre” -1.

The SWS also pointed out that the net economic optimism is lower among college graduates at -12 (low) and junior high school graduates at -11 (low), compared to elementary graduates at -5 (mediocre) and non-elementary graduates at +1 (mediocre).

The SWS poll was conducted using mobile phone and computer-assisted telephone interviewing of 1,555 adult Filipinos aged 18 years old and above nationwide. Of the 1,555 respondents, 306 were from the National Capital Region, 451 from Balance Luzon, 388 in the Visayas, and 410 in Mindanao.

The sampling error margin is ±2% for national percentages, ±6% for Metro Manila, ±5% for Balance Luzon, ±5% for the Visayas, and ±5% for Mindanao. -NB, GMA News