The Philippine Statistics Authority (PSA) in Aklan is currently conducting the annual Census of Philippine Business and Industry, which seeks to acquire data on the province’s business climate.
“Results of this industry census is beneficial [for the] business community, especially in assessing opportunities for new investments and estimating market shares for their products,” explained Provincial Statistics Officer Antonet Catubuan.
The census acquires information such as the number of workers, income, expenses, assets, capital participation, and inventory.
The census, which began last month, covers various sectors including agriculture, industry, and services.
Earlier this year, PSA-Aklan conducted a consumer expectation survey as a means of determining the country’s economic condition, including an overall view of household finances and income.
“Consumer spending and saving decisions have [an] important influence in determining the course of the national economy,” explained Catubuan.
She added, the data gathered can help in formulating economic forecasts and determining inflation rates, interest rates, and exchange rates./WDJ