There are quite a number of indicators which show that the economy is on its way to recovery.
The latest "Market Call" report of First Metro Investments Corp. and the University of Asia & the Pacific enumerates these figures to back up this view: Electricity sales of Meralco were up by 22.4% in the first quarter; employment generated by economy over a one-year period increased by five percent or a record-high of 1.7 M jobs; tax revenues beat targets, rising by 18.2%; and exports zoomed up by 42.5%.
Another good thing about the country's economy is the "stable" consumer prices or inflation as there has been no observed sudden spike in prices of goods and services during the first three months of the year.
But why should entrepreneurs and would-be entrepreneurs pay attention to economic numbers? And what does it mean if the economy turns in a solid growth?
Analysts say that as there are business opportunities during the economic downturn, it is time to be more excited because of new prospects owing to the better economic condition.
Peter Lee U, Dean of Economics at University of Asia & the Pacific, said that "generally, there are more business opportunities and more sales [during and economic upturn]."
"According to indicators, yes, the economy is on its way to recovery. Unemployment should be reduced, consumption should be going up. What's significant for the Philippines is that as the global economy recovers, remittances of overseas Filipinos will also increase and with that the purchasing power. It's a positive factor for consumer spending," said Lee U.
Eduardo Francisco, BDO Capital and Investment Corp. president, agrees, noting that the economy is being aided by election spending.
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