{"id":20438,"date":"2012-07-09T05:33:03","date_gmt":"2012-07-09T05:33:03","guid":{"rendered":"http:\/\/www.clearwaterphilippines.com\/wordpress\/?p=20438"},"modified":"2012-07-09T05:33:03","modified_gmt":"2012-07-09T05:33:03","slug":"bizman-1st-semester-economy-still-sluggish","status":"publish","type":"post","link":"http:\/\/www.clearwaterphilippines.com\/resort\/2012\/07\/bizman-1st-semester-economy-still-sluggish\/","title":{"rendered":"Bizman: 1st semester economy still sluggish"},"content":{"rendered":"

Sunday, July 9, 2012<\/p>\n

CITY OF SAN FERNANDO — Pampanga Chamber of Commerce and Industry Inc. (PamCham) vice chairman Rene Romero described over the weekend the performance of the local economy during the first semester or past six months of 2012 as still \u201csluggish.\u201d<\/p>\n

At the onset of the year, Romero opined that the local economy would be \u201cshaky\u201d but not \u201creally worrying,\u201d because of external effects of other world economies like that of the US, China and what he branded as the Asean tigers.<\/p>\n

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\u201cI am not an expert, honestly, on the local economy. Our projections in the business sector are primarily based on local observations, figures and data that are coming to us in the real sense. Based on these, we could actually make preparations in the coming months, especially with the onset of lean months in July,\u201d he told Sun.Star Pampanga.<\/p>\n

\u201cAs an example, we made observations in malls recently and we noticed that people just moved around. What were conspicuously missing were filled shopping bags in the hands of customers. Even if there were, they evidently were necessities. It\u2019s an indication that people don\u2019t have that much-needed purchasing power in their hands after the first six months of the year,\u201d Romero said.<\/p>\n

His observations were corroborated by marketing managers of two malls in the city, who said traffic count was way down versus last year even with promotions and special sales and discounts occasionally.<\/p>\n

\u201cWe are still reeling from the effects of slowdowns in the economic activities of the US, Europe and China which \u2018overheated\u2019 recently, so to speak, including tiger economies of Asia like Singapore that are similarly affected by global downtrends. Our local exports like furniture, toys, and house wares are down based on records. Much more, locally, we are not yet feeling the positive effects of the National Government\u2019s stimulus packages. Some of us at PamCham maybe rebounding now, but generally, our local economy remains sluggish at this point,\u201d the businessman narrated.<\/p>\n

\u2018October fever\u2019<\/p>\n

Hopes for some boost, Romero said, are nearing come October this year, when elections in 2013 get to a grind.<\/p>\n

\u201cElection money will certainly perk up the local economy, palliative as it maybe. Our past experience shows that when candidates start gearing up for elections, like starting October this year, money will flow and pump up the circulation starting from the bottom. When this election money cascades to the labor sector, a sudden energy of purchasing power goes into the hands of the consumer. The big thing is, it is pre-Christmas season by that time and the manufacturing and production industries–from T-shirts to food–will double inventory, translating to solutions that will ripple to all sectors including health, agriculture and finance,\u201d he added.<\/p>\n

\u201cWhat is good about the \u2018October Fever\u2019 and election syndrome is that it will sustain the local economy to as long as June next year,\u201d he shared.<\/p>\n

\u201cWe in the business sector have always crossed our fingers for better things to come for the sake of our employees and the labor industry in general. Sluggish as the local economy maybe now, we are doing everything we can to perk up the local economy and cushion effects it may have on our workers. Hope is always there and we would certainly overcome these challenges,\u201d he said. (Jovi T. De Leon)<\/p>\n

Published in the Sun.Star Pampanga newspaper on July 09, 2012.
\nhttp:\/\/www.sunstar.com.ph\/pampanga\/local-news\/2012\/07\/08\/bizman-1st-semester-economy-still-sluggish-230889<\/p>\n

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Clearwater Resort and Country Club, Clark Pampanga <\/strong>
\nCreekside Road near Centennial Expo,
\nClark Freeport, Pampanga Philippines 2023
\n(045) 889-5151 0917-520-4403 0922-870-5177
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\"\"<\/a>

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http:\/\/www.ClearwaterPhilippines.com<\/a><\/strong><\/p>\n

Manila Sales Office<\/strong>
\n3003C East Tower, Phil Stock Exchange Center,
\nExchange Rd Ortigas Metro Manila, Philippines 1605<\/em>
\n(632) 637-5019 0917-520-4393 Rea or Chay<\/p>\n

Email: Inquiry@ClearwaterPhilippines.com<\/p>\n