The national Social Weather Survey of December 12-16, 2021, the most recent quarterly national survey finalized by SWS, found 51% of adult Filipinos saying the Philippine Economy will improve (termed by SWS as “Economic Optimists”), 30% saying it will stay the same (“Neutral”), and 7% saying it will worsen (“Economic Pessimists”) in the next 12 months [Chart 1].
The resulting Net Economic Optimism score (% Economic Optimists minus % Economic Pessimists) is +44, classified by SWS as excellent (+40 and up) [Chart 2, Table 1].
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.
Net Economic Optimism is different from Net Personal Optimism, which refers to expectations in personal quality-of-life.
The survey question on expectations for the general Philippine economy in the next 12 months has been fielded 89 times since September 1998.
Net Economic Optimism rises in all areas
As of December 2021, Net Economic Optimism is highest in Balance Luzon (+52), followed by Metro Manila (+47), Mindanao (+46), and the Visayas (+19) [Chart 3, Table 2].
The 20-point rise in the national Net Economic Optimism score between November 2020 to December 2021 is due to increases in all areas, especially in Balance Luzon.
Compared to November 2020, Net Economic Optimism rose from high to excellent in Balance Luzon, up by 28 points from +24 to +52.
It rose from very high to excellent in Metro Manila, up by 16 points from +31 to +47.
SWS: 51% of Pinoys believe life will improve in next 12 months
It rose from very high to excellent in Mindanao, up by 10 points from +36 to +46.
It rose from mediocre to fair in the Visayas, up by 15 points from +4 to +19.
Net Economic Optimism rises in all education groups
By educational attainment, Net Economic Optimism is highest among college graduates (+50), followed by junior high school graduates (+45), elementary graduates (+45), and non-elementary graduates (+29) [Chart 4, Table 3].
Compared to November 2020, Net Economic Optimism rose from fair to excellent among college graduates, up by 32 points from +18 to +50.
It rose from high to excellent among junior high school graduates, up by 21 points from +24 to +45.
It rose from high to excellent among elementary graduates, up by 18 points from +27 to +45.
It stayed high among non-elementary graduates, although up by 8 points from +21 to +29.
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