Businesses in Singapore see dark clouds ahead

Firms in Singapore have turned decidedly gloomy about the business outlook.

Three newly released surveys suggest darker days ahead across most sectors as deteriorating global conditions continue to hobble the local economy.

A survey conducted by the Economic Development Board (EDB) found that manufacturers are expecting business conditions to worsen over the next six months through till March next year.

In all, 17 per cent of manufacturers expect things to get worse, a figure which exceeds their more upbeat peers by 10 percentage points, the EDB said on Monday.