Latest surveys indicate improved optimism of businesses and consumers, however. The overall business confidence index reverted to positive territory at 10.6 percent in Q4 from – 5.3 percent in Q3.
This optimism in the last quarter of 2020 was attributed to the reopening of businesses amid the “new normal,” easing of community quarantines nationwide, seasonal factors such as an uptick in demand during the holiday season and the start of the milling season, and the increase in volume of sales and orders.