Optimism amongst local businesses falls in Q4

Outlook particularly deteriorated in the services and wholesale sectors.

Local businesses’ confidence in the economy has fallen in the fourth quarter of the year, the latest Business Optimism Index (BOI) by the Singapore Commercial Credit Bureau (SCCB) showed.

According to SCCB, the BOI dropped to 4.98 percentage points in Q4 from 5.10 percentage points in Q3. On a year-on-year basis, BOI fell to 4.98 percentage points from 5.78 percentage points.

Whilst overall sentiment fell in the quarter, three of the six business parameters measured in the index saw improvements in Q4, namely volume of sales, selling price, and inventory levels.

Based on the BOI, these indicators rose to 2.99 percentage points, 9.70 percentage points, and 2.24 percentage points.

New orders, meanwhile, remained expansionary at 10.45 percentage points.

The two parameters which fell during the quarter were employment levels which moderated to 8.96 points, and net profits which dropped to 2.99 percentage points.

Looking at sectors, SCCB said transportation, financial, manufacturing and construction sectors were relatively upbeat, whilst the outlook for services and wholesale sectors deteriorated slightly in Q4.

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