Home News Singapore economy

Business sentiments remain tepid for 3Q; outlook for manufacturers deteriorate further: SCCB

PC Lee
PC Lee6/10/2019 04:24 PM GMT+08  • 2 min read
Business sentiments remain tepid for 3Q; outlook for manufacturers deteriorate further: SCCB
SINGAPORE (June 10): Business sentiment among local firms remained tepid for 3Q19 despite a slight rebounded for the first time after three straight quarters of decline, according to Singapore Commercial Credit Bureau (SCCB)’s Business Optimism Index qu
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (June 10): Business sentiment among local firms remained tepid for 3Q19 despite a slight rebounded for the first time after three straight quarters of decline, according to Singapore Commercial Credit Bureau (SCCB)’s Business Optimism Index quarterly study.

On a year-on-year basis, BOI fell from +10.58 percentage points in 3Q18 to +6.91 percentage points in 3Q19.

BOI inched marginally upwards from +5.08 percentage points in 2Q19 to +6.91 percentage points in 3Q19.

The SCCB Business Optimism Index (BOI) is a measure of business confidence in the economy.

Five of six indicators were expansionary for 3Q19, compared with 2Q19.

Volume of sales increased to +9.76 percentage points in 3Q19, compared to +8.0 percentage points in 2Q19. Net profit remained in positive territory at +8.13 percentage points in 3Q19 compared to +5.0 percentage points in 2Q19. Inventory levels rebounded to +3.25 percentage points in 3Q19 compared to -1.50 percentage points in 2Q19. New orders fell to +11.38 percentage points in 3Q19 from +8.5 percentage points in 2Q19.

However, selling price fell into the negative zone of -7.32 percentage points in 3Q19 from +4.0 percentage points in 2Q19.

Sector-wise, services was the most optimistic sectors in 3Q19. This was followed by the financial services as the second most optimistic sector and construction as the third most optimistic with moderate improvement.

At the other end, manufacturing was one of the least optimistic sectors due to a slowdown in the semiconductors sub-segment. The transportation sector also saw a downward moderation due mainly to a contraction within the water transport segment.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.