Business sentiments in Singapore's manufacturing sector remain positive

Business sentiments in Singapore's manufacturing sector remain positive amid the COVID-19 situation and pressure on supply chains, but fewer manufacturers anticipate better-than-third-quarter business conditions from October 2021 to March 2022.

According to a survey report released by Singapore's Economic Development Board (EDB) on Friday, a weighted 22 percent of surveyed manufacturers anticipate better business conditions while a weighted 6 percent foresee a weaker business outlook.

Overall, a net weighted balance of 16 percent of manufacturers anticipate a more favorable business situation for the six months beginning this October, compared to the third quarter.

A similar survey released this July showed that a weighted 26 percent of manufacturers anticipated better business conditions while a weighted 6 percent foresaw a weaker business outlook. Overall, a net weighted balance of 20 percent of manufacturers predicted a more favorable business situation for the period July-December 2021, compared to the second quarter of 2021.

By contrast, business sentiments in Singapore's services sector continued to improve. Another survey report released by Singapore's Department of Statistics (DOS) also on Friday showed that a weighted 25 percent of surveyed services firms are optimistic about the business conditions in the six months beginning October, while a weighted six percent foresee deteriorating business conditions.

Overall, a net weighted balance of 19 percent of the services firms expect more favorable business conditions from October 2021 to March 2022.

In the survey report released in July, a net weighted balance of 11 percent of services firms anticipated more favorable business conditions for the second half of 2021.