S'pore business confidence up slightly in Q4 but still weak: survey

Singapore

BUSINESS confidence in Singapore rose slightly but stayed weak in the fourth quarter of last year, a joint survey by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) has found.

The Global Economic Conditions Survey or GECS Report for Q4 of 2016 listed declining income, shrinking order books, staff cuts and hiring freezes among the nagging concerns of businesses. The findings were based on 4,551 responses to questions posed between last Nov 24 and Dec 13.