THE Bangko Sentral ng Pilipinas (BSP) said that businessmen remained optimistic for 2024, but the consumers are pessimistic.

The BSP said that based on its Business Expectations Survey, many of the businesses remained optimistic with regards to their prospect.

But the consumers don't share such sentiment.

The same survey showed that businessmen remained upbeat in Q4 2023.

Presently, the overall confidence index (CI) is at 35.9 percent. It is slightly up from 35.8 percent in Q3 2023. 

“This is reflective of the increase in the percentage of optimists, which was barely offset by the increase in the percentage of pessimists,” the BSP said. 

Likewise, most of the businesses expect an increase in demand for goods and services during the Christmas season.

There is also a sustained economic recovery to pre-pandemic levels as well as  business expansions in the utilities, trade, financial, and hotels, and restaurant sub-sectors.