PSA Clears the Conduct of the Business Expectations Survey (BES)

The Philippine Statistics Authority (PSA) granted clearance for the conduct of the Business Expectations Survey (BES) by the Bangko Sentral ng Pilipinas (BSP). The survey will generate indicators on overall business sentiment and prospects/outlook at the industry, construction, services, and wholesale and retail trade sectors.

The BES is conducted quarterly and aims to:

a. provide decision makers and other stakeholders supplemental indicators for short term planning, forecasting, risk management, and surveillance activities;

b. provide monetary authorities with advance information on the current and near-term economic and business conditions, and other indicators of aggregate demand that are useful inputs for the formulation of monetary policy; and

c. present the perception of different groups on current and near-term business conditions including levels of production and economic activity as well as factors that could influence the movement of key economic variables, namely: Gross Domestic Product (GDP), interest rate, peso/dollar exchange rate, and inflation rate.

Major data items collected in the survey are the following:

a. overall business outlook

b. own operations outlook

c. limiting factors in increasing business activity

d. future tendencies of the company

e. expectations to economic indicators

f. profile of responding corporation

The survey will cover a total of 1,500 establishments and enterprises with a total budget of PhP 13.7 million. The schedule of the conduct and release of the survey results are as follows:

Survey Round Distribution and Collection of Questionnaires Date of Release
1st Quarter 2022 14 January to 14 February 2022 25 March 2022
2nd Quarter 2022 01 April to 10 May 2022 27 June 2022
3rd Quarter 2022 01 July to 05 August 2022 23 September 2022
4th Quarter 2022 03 October to 08 November 2022 16 December 2022

 

The BES was reviewed and cleared for conduct under the Statistical Survey Review and Clearance System (SSRCS), a mechanism being implemented by the PSA by virtue of Rule 28 of Implementing Rules and Regulations of Republic Act No. 10625 to:

a. ensure sound design for data collection;

b. minimize the burden placed upon respondents;

c. effect economy in statistical data collection;

d. eliminate unnecessary duplication of statistical data collection efforts; and
e. achieve better coordination of government statistical activities.

In line with this, the PSA enjoins the establishments and enterprise nationwide to support the said survey by providing the required information.

For further information on SSRCS, please contact the Statistical Standards Division of the Standards Service with telephone numbers (02) 8376-1928 and (02) 8376-1931, and email address [email protected] and [email protected].