Recovery efforts after this month's devastating typhoon along with holiday and harvest seasons and other factors helped raise a gauge of Philippine business confidence to 52.3% for the fourth quarter from 42.8% last quarter, the central bank reported. "The favorable macroeconomic conditions in the country, particularly low inflation and interest rates, a strong peso, higher foreign investment inflows and the steady stream of overseas Filipinos' remittances also boosted business confidence in the current quarter," the bank said.

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