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+ January 27, 2021 MID-SIZED businesses are displaying reserved optimism about an economic recovery, according to the latest figures from Grant Thornton’s International Business Report which gathers responses from nearly 5,000 business leaders in 29 economies including the G20.
This follows a challenging year, in which mid-sized companies saw their revenue decrease by an average of one percent globally after they factored in the impact of Covid-19.
In the Philippines, economic optimism among mid-market businesses has further decreased over the past six months with the research finding that 49 percent of businesses have a slightly or very optimistic economic outlook for the next 12 months. This five percentage point decrease is only a slight contrast to six months ago when the government mandated lockdowns saw economic optimism fall to the lowest level since 2016.