Businessmen’s sentiments continue to be “steady” with the optimists outnumbering the pessimists, according to the latest Business Expectations Survey of the Bangko Sentral ng Pilipinas (BES-BSP).

The survey concludes that more Filipino companies are now bullish about their business and more expects the situation to continue up til the end of the third quarter.

BSP said firms in the construction sector were the most optimistic, followed closely by those engaged in the services sector.

Funding business operations or access to credit seems to have improved as well. “The financial condition index, which is an indicator of internal liquidity, likewise improved. (This) implied that fewer number of respondents expected liquidity problems in the third quarter compared to the previous 12-month period and the preceding quarter,” the central bank said Thursday.

The BES overall confidence index reverted to positive territory, the BSP added. This is the first time since the third quarter in 2008 that optimists outnumbered pessimists. The confidence index, at 18.4 percent improved to 31.3 index points year-on-year and by 21 index points quarter-on-quarter. “The buoyant outlook carried on to the fourth quarter,” said the BSP with the index at 33.7 percent, higher by 20 index points quarter-on-quarter and by 17.1 index points year-on-year. Based on the survey results, the favorable sentiment was also consistent with the emerging outlook of improving global economic conditions based on readings suggesting stabilization and/or recovery in key economic indicators.

“The improvement in domestic macroeconomic fundamentals (such as subdued price pressures/declining inflation, easing interest rates, rising overseas Filipinos remittances, and the relatively stable peso) helped lift business sentiment,” the BSP said. “Moreover, the expected seasonal pick-up in consumer demand in the last quarter of the year may have contributed to the optimistic outlook for the fourth quarter.”