May 27, 2011

MANILA, Philippines – Businessmen are less buoyant as the business optimism index fell for the second straight quarter under the Aquino administration.
The fall was due to higher operating costs, slow business procedures, and delayed fund disbursements for the Public-Private Partnership (PPP) scheme, a survey by the Bangko Sentral ng Pilipinas (BSP) showed.
After hitting a new record high of 50.6 percent in the fourth quarter of 2010, the BSP’s Business Expectation Survey showed that the business confidence index declined to 31.8 percent in the second quarter from 47.5 percent in the first quarter.
The index increased to 45 percent in the third quarter after President Aquino was sworn into office.
The confidence index is computed as the percentage of firms that answered in the affirmative less the percentage of firms that answered in the negative with their views on a given indicator.
A positive confidence index indicates a favorable view.
Rosabel Guerrero, BSP Department of Economic Statistics director, said the weaker business sentiment in the second quarter of the year could be attributed to surging operating costs, slow business procedures, and delayed disbursements for government projects.
“They (respondents) cited some domestic constraints to the business environment that contributed to their weaker sentiment, namely, higher operational costs as well as slow business procedures and fund disbursements for government construction projects,” she said.
Guerrero said respondents also blamed the less buoyant business outlook on global business developments like rising global oil and commodity prices, ongoing political tensions in the Middle East and North African, and the disasters in Japan last March 11.
“The current quarter’s outlook was less upbeat, however, compared to those of a quarter and a year ago,” she said.
“This indicates that optimists continued to outnumber the pessimists even as the number of respondents holding a positive view declined.”
Guerrero said the business confidence index for the next quarter also declined to 33 percent from the previous quarter’s record level of 59.4 percent due to the perceived economic growth slowdown.
“The second quarter and third quarter 2011 outlook suggests that the Philippine growth trend could be sustained, but a slowdown is possible after the reported growth of 7.6 percent in 2010,” she said.
Guerrero said the business confidence index of the construction sector fell to 41.9 percent from 55.8 percent but remained the most optimistic among all sectors.
“Respondents’ views were weighed down by the slow disbursements of funds for infrastructure projects under the PPP scheme, rationalization of other government programs in an effort to bring down costs and create savings, as well as the increasing costs of building materials,” she said.
The Philippines posted its strongest economic growth in 34 years after its gross domestic product (GDP) expanded by 7.6 percent after slowing down to 1.1 percent in 2009 from 3.8 percent in 2008 due to the global financial crisis.
The weaker business sentiment could be traced to the delayed take-off of the administration’s PPP scheme that would boost economic activities.
Controlled spending helped the national government post a budget surplus of P61 million in the first four months of the year after booking a 25-year high surplus of P26.3 billion in April.
Revenues posted a double-digit growth of 18.22 percent to P461.41 billion in January to April from P390.29 billion in the same period last year, while government expenditures fell 11.6 percent to P461.35 billion from P521.87 billion.
The government hopes to trim the budget deficit to P300 billion or 3.2 percent of GDP this year from a record P314.8 billion or 3.7 percent of GDP last year.
The administration has committed to trim the budget shortfall to 2 percent of GDP starting 2013 until 2016.
The survey showed that the business outlook index of the industry sector eased to 31.9 percent in the second quarter from 48.1 percent in the previous quarter.
On the other hand, the index of the services sector likewise declined to 39.3 percent from 48.9 percent due to lower demand in light of the MENA crisis and the disasters in Japan as well as increasing prices, and stiffer competition.
The index of the firms in the wholesale and retail industry plunged to 23.9 percent from 44.6 percent due to elevated oil and commodity prices as well as lack of raw materials for production, and the decline in orders from their Japanese markets.
The Q2 2011 Business Expectation Survey was conducted from April 1 to May 10 and covered 1,625 firms nationwide.
Respondents also see inflation and interest rates rising and the peso appreciating further against the US dollar.
BSP Deputy Governor Diwa Guinigundo said it is wrong to conclude that businessmen are now getting impatient with the Aquino administration.
“I think it is very difficult to say that the business community is getting impatient. There is no basis for that,” he said.

Source: http://www.philstar.com/Article.aspx?articleId=690162&publicationSubCategoryId=63

Generally regarded as the best hotel in the North near Manila as well as the top beach resort in Clark, Clearwater maintains a consistent standard with respect to products and services. This hotel in Pampanga may not be a 5-star resort but visitors from Manila going to Angeles City and Clark Freeport regard Clearwater as the number one location for family outings as well as the best event venue for company outings, weddings and other events.

Comparison of crime rates between Philippines Angeles City and Clark Pampanga sheds light on the difference between the twin cities of Pampanga. Regular guests of Angeles City Hotels begin to migrate on base into hotels inside Clark Philippines not only for peace and quiet but peace of mind and a sense of safety and security.

The beach resorts, leisure parks and vacation hotels in Clark Pampanga offer a unique ambience that supports a laidback relaxing lifestyle. Many visitors travel north to Clark Pampanga from Manila to unwind and relax in these resorts.

To many visitors from Manila, a good hotel in Pampanga must be located in a city that is safe, clean and not so noisy. This hotel in Clark Philippines really fits those criteria. The location is convenient for visitors to go out of town from Manila in a short getaway with family and friends traveling north to Angeles City Clark Pampanga. Traffic along the North Expressway NLEX is always light and the new Subic Tarlac Clark Expressway ScTex takes visitors straight into Clark Freeport without going through any towns and cities along the way.

Guests enjoy spending time relaxing at Frolic Garden of this hotel in Clark Pampanga. There is a special feeling in this hotel in Clark Philippines makes you slow down and enjoy the ambience. Children like playing in the Family Cove of this Clark resort hotel. Hotel guests prefer Clark over Angeles City, Subic or hotel in Manila. This hotel in Clark Philippines has style and character. Guests often come back again to relax and enjoy the beautiful ambience of this hotel in Clark Pampanga.

To inquire with the beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com

Hotel Clark Philippines
Creekside Road corner of Centennial Road,
Central Business District, Clark Freeport Zone,
Pampanga, Philippines 2023

Tel: (045)599-5949 0917-520-4403 0922-870-5177

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

http://www.HotelClarkPhilippines.com

Email: Info@ClarkPhilippines.com

Getting to this hotel in Clark Philippines
After entering Clark Freeport from Subic, Manila, Dau and Angeles City, proceed straight along Clark’s main highway MA Roxas, passing Clark’s largest wine shop called Clark Wine Center on your right, continue to bear right making no turns at all, go past Mimosa Leisure Estate on the opposite side of the road, you will hit a major intersection. Go straight and the road becomes Creekside Road. YATS Clearwater Resort and Country Club is on your right just 200m down. Traffic in Clark Philippines is light so it should be quite easy for get to this hotel in Clark Philippines.

YATS Leisure Philippines is a HK-based developer and operator of clubs, resorts and high-class restaurants and wine outlets http://www.YatsLeisure.com

To inquire with the beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com