Wellness in Business: Grant Thornton International Business Report; which was released by audit, tax, and advisory services firm Punongbayan & Araullo; showed that the Philippine business community is the second most optimistic in the optimism league table. The Philippines scored 90 percent, just behind Peru’s 96 percent and tied with Chile. The Philippines was at fourth spot last quarter, behind Peru (90 percent), Brazil (86 percent) and the United Arab Emirates (84 percent)

Philippine business community 2nd most optimistic in the world - report | GMA News Online | The Go-To Site for Filipinos Everywhere: "For this second quarter, a balance of 40 percent of Philippine respondents expected increased profitability, same as last quarter. But in terms of revenue improvement expectations, the balance dropped from last quarter’s 48 percent to 44 percent. The proportion of businesses expecting to hike prices grew to 30 percent from last quarter’s 14 percent.

“The drop in revenue expectations could be due to businesses expecting a reduction in sales volumes as a result of price increases,” Marivic Españo, P&A’s chair and chief executive, said in a statement. “Costs attendant to doing business, such as oil prices for example, which were on the high end at the start of the second quarter, are normally passed on to consumers, so business leaders are naturally looking at a drop in volume sales.”

Also, 80 percent of the respondents in the report plan to increase salaries either in line with inflation or by causes other than inflation. None of the businesses intend to reduce pay."

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