Overall, a net weighted balance of 20% of manufacturing firms anticipate a less favourable business situation from October to March 2023 compared to the 3Q2022.
Business sentiments in the manufacturing sector have remained negative for the next six months from October to March as companies continue to face supply chain challenges and operational cost pressures amid the Russia-Ukraine conflict and Covid-19-zero measures in China.
In a report by EDB Singapore, a weighted 8% of manufacturers expect business conditions to improve during the period while a weighted 28% foresee a weaker business outlook.
