Singapore's manufacturing and services sectors mostly see no change in business conditions

 A worker in a medical clean room environment at Univac Precision Engineering, a firm which supplies medical components and devices, at its manufacturing plant in Woodlands.
A worker in a medical clean room environment at Univac Precision Engineering, a firm which supplies medical components and devices, at its manufacturing plant in Woodlands. PHOTO: ST FILE

SINGAPORE - The rather gloomy outlook for firms in the manufacturing and services sectors continues, according to the latest business expectations survey by the Economic Development Board (EDB).

The survey, released on Friday (July 29), found that a majority of manufacturing firms (a weighted 77 per cent) expect no change in lacklustre business conditions for the second half of 2016. Just 11 per cent of manufacturers expect things to improve while a 12 per cent are bracing for conditions to get worse.

As for the services sector, a weighted 64 per cent of firms surveyed expect business conditions to remain the same, 21 per cent think they will get worse and 15 per cent say things are looking up, a separate survey by the Singapore Department of Statistics showed.