Firms expect business climate to remain unchanged till end-June

Firms expect business climate to remain unchanged till end-June

SINGAPORE - Business climate is expected to remain unchanged for the first half of this year, a report on business expectations released by Singstat says.

The Business Expectations Survey found that a weighted 14 per cent of firms are optimistic about business prospects, while a weighted 19 per cent of firms project slower business.

For the wholesale industry, firms dealing with food and beverages and chemicals & chemical products are more optimistic than wholesalers of household electrical appliances.

A net weighted balance of 15 per cent of firms in the retail trade industry are less optimistic for the six-month period ending June 2013.

In particular, retailers of motor vehicles reported concerns over changes made to the Certificate of Entitlement (COE) quota.

A net weighted balance of 11 per cent of firms in the real estate industry, in particular real estate developers, foresee lower sales for the three-month period ending March 2013.

Firms in the accommodation industry also predict less favourable business conditions for first quarter of 2013. The industry also expects a decrease in hiring activity after the end of the holiday season.

Similarly, both turnover and employment levels for the food & beverage industry are expected to drop in the same period.

More details are available in the press release on the next page:

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