Business sentiment for the fourth quarter improved due to prospects of an investment rating for the Philippines in the near term, the economy’s favorable growth performance, and expectation that household spending will remain strong. The business confidence index for the fourth quarter stood at 49.5 percent, better than the 38.7 percent reported in the same period last year, and the 42.5 percent seen in the third quarter of 2012. It was the second-highest figure on record. In the latest Business Expectation Survey of the Central Bank of the Philippines, respondent firms feel better off about the economy of the fourth quarter, writes Michelle Remo for Philippine Daily Inquirer