Business sentiments in the manufacturing sector were slightly positive, even as firms continue to record weak demand in geopolitical and economic headwinds, read the recent data from EDB.
Within the manufacturing industry, the transport engineering cluster stands out as the most optimistic, with 35% more firms anticipating a favorable business environment for the period between October 2023 and March 2024, when compared to Q3 2023. "This positive trend is mainly attributed to the semiconductors segment, where ongoing adjustments in customer inventories are expected to contribute to a gradual recovery in demand," read the statement.
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