Fewer Pinoys expect lives to improve, SWS says

Kim Arveen Patria
Yahoo! Southeast Asia Newsroom3 December 2012

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According to reports, the poverty index went down from 45.3 percent in 1991 to 26.5 percent in 2009, but the actual number of poor Filipinos increased from 28.1 million in 1991 to 30 million in 2010.

Fewer Pinoys think their lives will get better over the next 12 months even as more expect the economy to improve in the same period, a new Social Weather Stations (SWS) survey showed.

Results of the survey originally published in BusinessWorld Monday pegged Filipinos' net personal optimism at a "high" +27, with 34 percent of 1,200 respondents saying their lives are likely to improve and 7 percent claiming otherwise.

The August result is a drop from the "very high" net optimism score of +30 recorded in the previous quarter.

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Meanwhile, 28 percent of respondents said their lives had improved in the last 12 months while 21 percent expect it to worsen.

This drop in personal optimism comes despite Pinoys' increased confidence in the economy.

Net economic optimism was recorded at a "very high" +17, which is the difference between the 31 percent of respondents who expect the economy to improve and the 14 percent who expect it to slow down.

Pinoy's outlook on the economy rose from May's "high" of 8 percent.

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The results of the late August survey seemed to have been reflected in 7.1-percent economic growth in the third quarter, which the government announced last week.

All socioeconomic classes had increased optimism of "very high," with the ABC class being most optimistic at +28, up 28 points.

It was followed by class E (+11, up 8 points) and class D (+18, up 7 points).

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Net personal optimism, meanwhile, plunged among all socioeconomic classes, with the ABC classes still having the best expectations at with "very high" optimism" of +32, down from the previous +34.

Class D respondents' optimism dropped to +28 ("high") from +32 ("very high"). Among the class E, optimism remained "high" at +20, although dropping from +24.