According to the Singapore Economic Development Board (EDB) business sentiments in the manufacturing sector remain positive amid the Covid-19 environment and pressure on supply chains.
The findings come from EDB’s Survey of Business Expectations of the Manufacturing Sector for the 3Q2021, which was conducted between June and July. 415 manufacturing establishments were surveyed with a response rate of 92%.
According to the survey, a weighted 26% of manufacturers anticipate better business conditions while a weighted 6% foresee a weaker business outlook. Overall, a net weighted balance of 20% of manufacturing firms anticipate a favourable business situation for the period between July to December, compared to the 2Q2021.