More local manufacturers and services firms are optimistic about business conditions in the months ahead due to factors such as a boom in products related to artificial intelligence (AI) and the return of travel, separate surveys showed on April 30.
A net weighted balance of 22 per cent of manufacturing firms anticipate a favourable business situation for the April to September period, compared with the first quarter of 2024, according to a poll by the Economic Development Board (EDB).
This is much higher than the 10 per cent figure in its previous quarterly survey.
Meanwhile, a Singapore Department of Statistics (SingStat) survey showed that for the services sector, a net weighted balance of 7 per cent of companies expect a more favourable business outlook, up from 5 per cent in the previous poll.
The net weighted balance is the difference between the weighted shares of positive and negative responses, with a positive figure indicating more optimism than pessimism.
In the manufacturing sector, all clusters expect their business situation to improve, with electronics emerging as the most optimistic.
The cluster had a net weighted balance of 40 per cent of firms projecting positive business prospects in the six months to September, compared with the first quarter.
Firms in the semiconductor and other electronic modules and components segments are especially bullish, amid better demand in consumer electronic devices. Strong AI server demand is also expected to boost orders for memory, storage and networking chips.
The transport engineering cluster's marine and offshore engineering segment anticipates a rise in projects from the global oil and gas and offshore renewables markets.
Bu hikaye The Straits Times dergisinin May 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin May 01, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
LAXON WINS, BUT THE EQUINE VERSION
Unlike his famous namesake, Darci Brahma 3YO just tasted his first success in Malaysia
STARS ALIGN FOR RIYADH
Singapore mountain biker takes historic World Cup silver after rivals falter
EMBRACE CHANGE AND FUTURE: KLOPP
In his farewell speech at Anfield, he urges fans to back Slot as he becomes one of them
MAJOR MOMENT EARNED
Schauffele holds his nerve to win in Valhalla and end 2-year title drought
MOMENT OF TRUTH FOR NEW APPROACH
Floorball men can show at world qualifiers results of overhauled training methods
NO GUINEAS, BUT GREATER GOOD FOR GREATHAM BOY
Fitzsimmons vindicated in decision to steer 3YO from G2 feature towards softer option
S'pore firms continue to expand in China, driven by long-term potential
EnterpriseSG has helped businesses grow there through 300 projects over past 2 years
Japan's inexperienced investors fall for scams 'like babies'
As Japan's stock market booms, something else is also on the rise in the nation: investment scams.
CHIJ celebrates 170 years of teaching generations of girls
Second-oldest girls' school holds big bash for staff and students, past and present
Test kits fly off the shelves as Covid-19 cases spike
Pharmacies report surge in demand for kits, masks as S'pore faces new infection wave