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Most Singaporean firms expect 'continued uncertainty' in next 12 months

Bloomberg
Bloomberg9/1/2020 09:09 AM GMT+08  • 2 min read
Most Singaporean firms expect 'continued uncertainty' in next 12 months
Almost two-thirds of Singapore businesses see the local economy’s activities continuing at their current low pace for the next year, according to a survey by the Singapore Business Federation.
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Almost two-thirds of Singapore businesses see the local economy’s activities continuing at their current low pace for the next year, according to a survey by the Singapore Business Federation.

Some 66% of large companies and 61% of small and medium-sized firms expect “continued uncertainty” in the next 12 months, according to the figures. One-fifth of businesses anticipate a second wave of coronavirus infections that prompts another economic slump in the city-state, just 10% believe the worst is already over and 8% expect the availability of a vaccine to help the economy return to previous levels.

The federation received 225 responses from August 7-21 on what support the business community still needs as Singapore battles what’s set to be its worst recession on record.

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