Business optimism on the wane in Q1: poll

[SINGAPORE] Local business confidence is wilting in the first quarter of this new year, although it remains in the positive range, going by the latest Business Optimism Index (BOI) compiled by the Singapore Commercial Credit Bureau (SCCB).

The overall BOI score fell from +33.98 percentage points last quarter to +13.13 percentage points for Q1 this year, suggesting strongly that moderation has set in and local firms are cautious about their business expectations.

The BOI, done every quarter, is the result of a survey among 200 business owners and senior executives representing major industry sectors across Singapore.

The overall score was calculated from sub-indices across six indicators - sales, profits, employment, new orders, inventories and selling prices. These indices were in turn derived by subtracting the percent…