The latest data from Grant Thornton's International Business Report reveals that optimism among mid-market businesses in the Philippines has reached 66 percent in Q2-2024, up from 61 percent in Q1-2024.This rise underscores the positive outlook of Philippine mid-market businesses, despite the ongoing economic challenges and uncertainties on both the global and domestic fronts.
Despite this decline, employment intentions remain stronger than the regional and global averages of 48 percent and 55 percent, respectively.This cautious approach to hiring reflects ongoing economic uncertainties and a reassessment of workforce needs considering current market conditions.
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