Most Singaporean enterprises believe business situation not to change in H1

SINGAPORE, Jan. 31 (Xinhua) -- Business expectation surveys show a majority of Singaporean enterprises expects business situation in the first half of 2018 to remain unchanged.

A survey report released by Singapore's Economic Development Board on Wednesday says that a weighted 75 percent of firms in Singapore's manufacturing sector expects business situation in the first half of 2018 to remain similar to a quarter ago.

The report says a weighted 13 percent of manufacturers expects business conditions to improve while a weighted 12 percent foresees a deteriorating business outlook.

Overall, a net weighted balance of 1 percent of manufacturers expects an improved business situation for the first six months of 2018, compared to the fourth quarter of 2017.

Compared to the fourth quarter of 2017, a net weighted balance of ten percent of manufacturers expects output to increase in the first quarter of 2018; and a net weighted balance of three percent of manufacturers plans to hire fewer workers in the first three months of this year.

Another survey report was released by the Department of Statistics also on Wednesday. It shows that a weighted 73 percent of enterprises in Singapore's services sector anticipate the level of business activities to remain the same in the first half of this year.

Meanwhile, a weighted 15 percent of service firms is optimistic about the business conditions in the six months, while a weighted of 12 percent of such firms foresees slower business.

Overall, a net weighted balance of 3 percent of service firms expects more favourable business conditions for January-June 2018 compared with July-December 2017. The figure is lower than the net weighted balance of 9 percent recorded previously for the period of October 2017-March 2018.

This report adds that a net weighted balance of 3 percent of service firms forecasts operating receipts to increase in the first quarter of 2018 compared with the previous quarter; and a net weighted balance of 1 percent of service firms expects hiring to remain at a similar level for the first quarter of this year. Enditem