Business expectation surveys show that a weighted 11 percent of Singaporean manufacturers foresee a weaker business outlook for the period from this October to next March, compared to the third quarter of this year.
Meanwhile, a weighted 6 percent of manufacturers expect business conditions to improve in the six months starting this October, and a weighted 83 percent of manufacturers expect business situation in the period to remain similar to the third quarter of 2019.
A survey report released by Singapore's Economic Development Board on Thursday shows that overall, a net weighted balance of 5 percent of manufacturers predict a less favorable business situation for the October 2019 - March 2020 period, compared to the third quarter this year.
As for the fourth quarter of 2019 only, a net weighted balance of 2 percent of manufacturers predict output to decrease in the period, compared to the third quarter; and a net weighted balance of 3 percent of manufacturers plan to hire fewer workers in the fourth quarter of 2019, compared to the preceding quarter.
On the other hand, another survey report released by the Department of Statistics also on Thursday shows that a weighted 77 percent of enterprises in Singapore's services sector anticipate the level of business activities to remain the same in the fourth quarter of 2019 and the first quarter of 2020.
Meanwhile, a weighted 12 percent of service firms are optimistic about the business conditions in the six months starting this October, while a weighted of 11 percent of such firms foresee slower business. Overall, a net weighted balance of 1 percent of service firms expect more favorable business conditions for the October 2019 - March 2020 period.
This report adds that a net weighted balance of 3 percent of service firms forecast operating receipts to increase in the fourth quarter of 2019, compared with the third quarter; and a net weighted balance of 6 percent of service firms expects to increase hiring activities for the fourth quarter.
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