4 in 10 Pinoys expect economy to recover

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    FOUR out of 10 Filipinos expects the country’s economy to recover in the next 12 months, the same number as those who expect the quality of their lives to also improve during the same period, a November 21-25 survey of the Social Weather Stations (SWS) showed.

    The survey, which involved 1,500 adult respondents nationwide with a margin of error of ±2.5 percent, found that 42 percent of adult Filipinos believe the economy will improve or Economic Optimists, while 28 percent expect it to be the same or Neutral and 18 percent said it worsen or Economic Pessimists in the next 12 months.

    This is an improvement from the 33 percent Economic Optimists and 38 percent Economic Pessimists recorded in September 2020.

    It also resulted in a net economic optimism score of a “high” +24 (percent of Economic Optimists minus percent of Economic Pessimists), up from the “mediocre” -5 recorded in September 2020.

    SWS classifies net economic optimism score of +40 and up as excellent, +30 to +39 as very high, +20 to +29 as high, +10 to +19 as fair, –9 to +9 as mediocre, –19 to –10 as low, –29 to –20 as very low, –30 to –39 as extremely low, and –40 and below as execrable.

    The survey firm attributed the improved Net Economic Optimism score to a rise in optimism in all areas with the highest recorded in Mindanao with +36 (up from -15), followed by the Visayas with +4 (up from -24), Metro Manila with +31 (up from +7), Luzon with +24 (up from +5)

    SWS also found that four out of 10 Filipino or 44 percent of Filipinos expect the quality of their lives to improve in the next 12 months (Personal Optimists) while 36 percent expects it to stay the same (No Change) and 9 percent expect it to worsen (Personal Pessimists).