Singapore’s business sentiments for next 6 month become less pessimistic: survey

Singapore, Republic of Singapore XINHUA The Economic Development Board of Singapore (EDB) and the Department of Statistics (DOS) issued survey reports on company expectations on Friday, showing that companies in the country have been less negative about business for the six months beginning this October, Here you can search for the Singapore company detail.

The study survey, Manufacturing Sector Market Expectations, showed that a weighted 18 percent of manufacturers expect to improve business conditions, while a weighted 21 percent expect a poorer business outlook for October 2020 to March 2021.

Overall, relative to the third quarter of this year, a net weighted balance of 3 percent of manufacturers expect less favorable business for the period October 2020 to March 2021. This is an improvement from the previous edition of this survey report, published this July and showing a net weighted balance of 7% of manufacturers, compared to the second quarter of this year, expected a smoother market situation for the second half of 2020.

As for the fourth quarter of 2020 alone, 66 percent of manufacturers expect production to remain comparable to the third quarter in the period; and 8 percent of manufacturers plan to employ fewer employees in the fourth quarter than in the previous quarter in a net weighted balance.

The Market Expectations of the Services Sector survey report showed that in the six months beginning this October, a weighted 20 percent of service firms are positive about business conditions, while a weighted 25 percent of such firms anticipate slower business. Overall, for the period October 2020 to March 2021, a net weighted balance of 5 percent of service firms expect less favorable market conditions.

The previous edition of this survey report, which was published in July, showed a net weighted balance of 31% of the less favorable market conditions expected by service firms for the six months ending this December.

As for the fourth quarter alone, the latest Services Sector Survey Report showed that a net weighted balance of 5% of service firms predicted a decrease in operating receipts in the quarter and a net weighted balance of 7% of service firms predicted a decrease in recruiting activities in the fourth quarter.

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