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Business optimism wanes for Singapore's manufacturing sector: EDB survey

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Manufacturers in Singapore are looking less optimistic about their prospects in their next six months, a government survey has found.

MANUFACTURERS in Singapore are looking less optimistic about their prospects in their next six months, a government survey has found.

Of the more than 400 manufacturers polled by the Economic Development Board (EDB), a weighted 8 per cent of them said they expected better business conditions from October to March next year, compared with the previous six months.

A weighted 7 per cent expected conditions to deteriorate.

This means a positive net weighted balance of 1 per cent, down from 6 per cent in the July edition of the survey.

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This measure of the difference between the proportion of firms that are optimistic and those that are not is often used to reflect how widespread positive or negative business sentiment is.

Among the industrial clusters, the transport engineering sector is the most optimistic going forward, followed by the biomedical manufacturing cluster.

However, the electronics and precision engineering clusters project a worsening of business conditions in the next six months, compared with a quarter ago.

The EDB said on Friday that in the precision engineering cluster, the machinery and systems segment expects a seasonal softness in orders, particularly in semiconductor-related equipment.

 

Latest Singapore manufacturing data: Factory output contracts 1.2% in September

 

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