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Singapore business sentiment tumbles on potential coronavirus fallout: poll

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BUSINESS sentiment among Singapore firms plunged to an all-time low in the second quarter of 2020 on coronavirus health risks and potential economic impact, according to Singapore Commercial Credit Bureau's (SCCB) latest Business Optimism Index study. Read more at The Business Times.

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.

From late February to early March, the study polled 200 business owners and senior executives representing major industry sectors across Singapore, with figures calculated by subtracting the percentage of respondents expecting decreases from the percentage expecting increases, said SCCB. In construction, selling price tumbled to -30 percentage points from +30 percentage points while inventory levels dropped to -30 percentage points from +10 percentage points.

Manufacturing had the largest drops in selling price and new orders. Both fell to -10 percentage points from +15 percentage points.

 

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