Singapore business confidence rises for 2nd straight quarter: Singapore Commercial Credit Bureau


People along the Marina Bay Waterfront Promenade with the Central Business District and Marina Bay Financial Centre in the background on April 16, 2018.
People along the Marina Bay Waterfront Promenade with the Central Business District and Marina Bay Financial Centre in the background on April 16, 2018.PHOTO: ST FILE

SINGAPORE - Business confidence in Singapore improved for a second consecutive quarter in Q2 2018, according to the business optimism index study released by the Singapore Commercial Credit Bureau (SCCB) on Monday (March 5).

The index jumped from +4.29 percentage points in Q1 2018 to +8.50 percentage points in Q2 2018. On a year-on-year basis, the index made a leap from +2.66 percentage points in Q2 2017.

SCCB's quarterly index measures business confidence in the economy by tracking six parameters, namely volume of sales, net profits, selling prices, new orders, inventory levels, and employee count.

It found that the services and transportation sectors were the most upbeat for Q2 2018, with five out of six business indicators in the expansionary zone.

But, sentiments within the manufacturing sector weakened in Q2 2018, with three indicators in positive territory, from four in the previous quarter.

The construction sector was one of the most downbeat sectors, with only two business indicators in the positive region.