SWS: Pinoys ‘very highly’ upbeat on personal outlook, economy
MANILA, Philippines – It appears that Filipinos are in high spirits about their personal prospects and the state of the Philippine economy in 2015.
The results of a survey conducted by the Social Weather Stations (SWS) – first published by media partner BusinessWorld – show that Filipinos are at their most optimistic in over a year, with 41% of respondents expecting their quality of life to improve, and 31% expecting the economy to get better.
The nationwide survey, conducted among 1,800 representative adults from November 27 to December 1, 2014, showed the highest ratings under the Aquino administration in 5 quarters.
Asked if they expected a change in the quality of their lives in the next 12 months, 41% of the respondents expressed optimism, while 6% were pessimistic, for a net personal optimism of +35 – up 5 points from September 2014, and higher than in 2013, when it was at +33.
During the survey period, there was a 13-point rise among personal optimists in Mindanao, a 10-point rise in the Visayas, and a 3-point rise in Metro Manila, despite a marginal 1-point drop in Balance Luzon. Net personal optimism also increased across all socioeconomic classes.
Asked how their lives changed in the past year, 29% classified themselves as "gainers," while a bigger 30% deemed themselves as "losers" for a "fair" -1 net gainers – up from -8 in September 2014, and the best number since March 1987 with +11 net gainers under the first Aquino administration.
Net optimism in the Philippine economy in 2015 improved by 5 points, to +16 in December from +11 in September 2014. During the period, 31% believed the economy will be better, while 15% believed it will be worse.
During the survey period, there was a 17-point increase in net optimism on the economy in Mindanao, 7-point rise in Metro Manila, 2-point rise in Balance Luzon, and a 4-point drop in the Visayas.
Optimism about the economy was also “very high” across all socioeconomic classes, with the poorest Class E posting a +21 – the highest since June 2013’s +22 net optimism.
Malacañang acknowledged the need for the improved optimism of Filipinos to be matched by better government services, infrastructure projects, and policies anchored on good governance.
Filipinos remained optimistic about their personal prospects and the national economy even if economic growth slowed down to 5.3% in the third quarter, dimming the government's chance to meet its full-year target of 6.5% to 7.5%.
The 2014 full-year gross domestic product growth (GDP) growth was 6.1% or P12.63 trillion ($286.20 trillion) – below target, and lower than the record-high 7.2% growth in 2013 or P11.55 trillion ($261.72 billion) at prevailing rates. – Rappler.com