By Ronnie Harui
SINGAPORE–Enterprise sentiment amongst Singapore’s producers for the primary half of 2023 stays damaging as they expertise waning demand for manufactured items amid continued supply-chain challenges and price pressures, the Singapore Financial Improvement Board mentioned Tuesday.
A web weighted 25% of producers anticipate a much less favorable enterprise state of affairs for the primary half, in contrast with the fourth quarter of 2022, the EDB mentioned. A weighted 31% of producers foresee a weaker enterprise outlook whereas a weighted 6% anticipate enterprise situations to enhance, the EDB added.
Within the basic manufacturing sector, a web weighted 25% of corporations anticipate weaker enterprise prospects till June, the EDB mentioned. Inside this sector, corporations within the meals, drinks, tobacco and miscellaneous segments are involved about rising working prices and anticipate macroeconomic weak point to weigh on export demand.
A web weighted 44% and 13% of corporations within the electronics and precision-engineering sectors, respectively, foresee lackluster enterprise situations to persist into the primary half, the EDB mentioned. A web weighted 27% of corporations within the biomedical-manufacturing sector anticipate a much less favorable enterprise state of affairs, whereas a web weighted 5% of these within the chemical compounds sector predict enterprise situations to worsen.
Within the manufacturing sector, the transport-engineering phase is probably the most optimistic, with a web weighted 21% of corporations anticipating an improved enterprise surroundings, the EDB mentioned. This optimism is led by the aerospace phase, which expects increased demand for plane upkeep, restore and overhaul jobs as cross-border air journey continues to get better.
Write to Ronnie Harui at [email protected]