Neda7 forecasts increased economic activities in near term
BUSINESSES in Central Visayas will continue to expand for the remainder of the year, according to the latest outlook of the National and Economic Development Authority (Neda) 7.
This is because establishments have adjusted and have become adaptable to the ever-changing quarantine restrictions and varying threats brought about by the Covid-19 pandemic.
Neda 7 said efforts by establishments to reconfigure and innovate their businesses have allowed them to meet the demand of the “new normal.”
“This means expectations of increased economic activities in the near term,” the agency said.
As businesses continue to improve, labor market conditions will likely perk up.
“The Bangko Sentral ng Pilipinas’ Business Expectations Survey for the fourth quarter affirms this view of an improved employment environment, up from last (second) quarter. The higher positive reading suggests that firms are looking forward to hiring more people for the fourth quarter of 2021,” Neda 7 said.
