Overall business confidence plunges sharply in Q2

This is one of the lowest readings since 2Q13.

Overall business confidence registered a sharp year-on-year decline in the second quarter, posting the second lowest reading in two years since 2Q13.

The Singapore Commercial Credit Bureau (SCCB)’s latest quarterly Business Optimism Index (BOI) posted a result of +9.0 percentage points, markedly lower than the +22.66 percentage points posted in Q2 2014.

On a quarter-on-quarter basis, however, this result is higher than the +1.11 percentage points recorded in in Q1 2015.

For Q2 2015, the services sector emerged as the most optimistic sector, followed by the financial sector.

On the other end of the spectrum, both manufacturing and transportation sectors were least optimistic about the outlook for Q2 2015.

“After three quarters of sustained declined, we are finally seeing a reversal in the downtrend of business optimism here. While the signs are encouraging, local businesses have yet to regain the same level of confidence a year ago when overall BOI was well above the 10 percentage point mark,” said Audrey Chia, SCCB’s Chief Executive Officer.

Also Read

Low inflation in Singapore unlikely to hold in 2Q24

Lower private transport costs ease inflation to 2.7% YoY in March

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit