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SWS: 51% of Filipinos say economy will improve in the next year

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SWS: 51% of Filipinos say economy will improve in the next year
File photo shows the Ortigas Business district dwarfing a slum area in Pasig Floodway on May 25, 2020.
The STAR / Michael Varcas

MANILA, Philippines — More than half of Filipinos expect the country's economy to recover within the next 12 months, new survey results from the Social Weather Stations suggest. 

In a report of its results sent to the media Wednesday afternoon, the SWS said that it found 51% of adult Filipinos saying the Philippine economy will improve, 30% saying it will stay the same, and 7% saying it will worsen in the next 12 months.

The resulting Net Economic Optimism score is +44, a final score classified by SWS as excellent.

The December 2021 Net Economic Optimism was a continuing recovery from the mediocre -9 in July 2020, mediocre -5 in September 2020, and high +24 in November 2020. This is the highest since the excellent +44 in September 2016.

SWS also noted increases in all areas, especially in Balance Luzon, as well as increases across all education groups. 

The polling institution was careful to delineate Net Economic Optimism from Net Personal Optimism, which refers to expectations in personal quality of life.

SWS said it also found economic optimism to be directly tied to personal optimism. 

"It rose from fair to high among those who said “No Change,” up by 16 points from +10 to +26. It rose from execrable to very low among Personal Pessimists, up by 21 points from -43 to -22," the report reads. 

Methodology

The Fourth Quarter 2021 Social Weather Survey was conducted from December 12-16, 2021, using face-to-face interviews of 1,440 adults nationwide: 360 each in Balance Luzon, Metro Manila, the Visayas, and Mindanao.

The sampling error margins are ±2.6% for national percentages and ±5.2% for Balance Luzon, Metro Manila, the Visayas, and Mindanao.

The area estimates were weighted by the Philippine Statistics Authority medium-population projections for 2021 to obtain the national estimates. The survey was non-commissioned.

The exact phrasing of the survey questions was: “Sa darating na 12 buwan, ano sa palagay ninyo ang mangyayari sa ekonomiya ng Pilipinas?  Masasabi ba ninyo na ito ay bubuti, kapareho lang, o sasama?”

The SWS also said that the survey question on expectations for the general Philippine economy in the next 12 months has been fielded 89 times since September 1998.

SOCIAL WEATHER STATIONS

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