Aside from the pandemic, businesses – particularly the ones in manufacturing – cited uncertainty in global trade and macroeconomic conditions as other areas of concern. This was revealed in two quarterly surveys released by the Economic Development Board (EDB) and the Department of Statistics (Singstat) on July 30.
Services and manufacturing firms in Singapore are looking at dim prospects in the second half of this year as the Covid-19 health-turned-economic crisis continues to thwart their operations.
Although sentiment looks bleak, it is still a moderate improvement from three months ago when businesses were concerned about the “circuit breaker” measures between April 7 and June 1 which shuttered non-essential businesses.
