SINGAPORE'S businesses saw weaker performance and grew less optimistic in the third quarter of 2022, the latest Business Times-Singapore University of Social Sciences (BT-SUSS) Business Climate Survey has found.
Of the survey's three indicators of performance, orders or new business weakened, while profits remained in decline. Sales was the only indicator showing a slight improvement.
Taking the largest hit was the net balance for orders or new business, which fell 7 percentage points to -1 per cent, ending five straight quarters of expansion.
The net balance is the difference between the share of firms with an increase and those with a decrease in an indicator, compared to the year-ago period....