SINGAPORE - Business sentiment among Singapore firms plunged to an all-time low in the second quarter of 2020 because of coronavirus health risks and potential economic impact.
Year on year, the index dipped strongly, losing 12.96 percentage points from +5.08 percentage points in the first quarter of 2019. Among indicators, selling price, volume of sales and new orders fell the most. Selling price slid 17.42 percentage points to -8.46 percentage points in Q2 2020 from +8.96 percentage points in Q1 2020.
Among sectors, only transport and finance had any positive indicators. Transport's only positive indicator - inventory levels - jumped to +42.86 percentage points from -14.29 percentage points, while net profits were the sole positive indicator for finance, down to +16.67 percentage points from +100 percentage points.
Spore have gone through SARS before in 2002/2003 period and we have made it through. This is the second time we are facing coronavirus and this time round, I believe we can make it. China epidemic is coming to an end with the prospects looking bright again.