Singapore business confidence drops to near 2-year low in Q4

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LOCAL business confidence slipped to a near two-year low for the final quarter of 2019, according to Singapore Commercial Credit Bureau (SCCB)’s Business Optimism Index study, with manufacturing and wholesale trade braced for a downturn. Read more at The Business Times.

Compared to the previous quarter, sales, profits, new orders, employment and inventory levels all fell while only selling price, which remains negative, went up from -7.32 percentage points to -3.33 percentage points.

On a year-ago basis, only employment rose, jumping from +4.39 percentage points to +14.44 percentage points. Five indicators increased for transportation, but three – sales, net profits and inventory levels – came in at 0 percentage points, while the remaining three were positive. Manufacturing and wholesale trade were the most downbeat sectors. Manufacturing had employment as its sole positive indicator and wholesale trade had none.

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