Weak profit outlook taints Q2 business sentiment

Submitted By:  Nathanielle Punay Case Study:  No Organisations are least optimistic with new orders and net profits. Business optimism amongst local firms dipped 7.88 percentage points (ppt), both on a QoQ and YoY basis, for Q2 after profits and sales volumes went down in Q1, according to Singapore Commercial Credit Bureau’s (SCCB) Business Optimism Index report. All of its six indicators contracted in Q2, led by new orders as it reversed the 3.98 ppt rise in Q1 to a 12.44 ppts crash. Net profits also saw a 5.97 ppts slip and volume of sales dropped 9.95 ppts from a 6.97 ppts growth over the same period. read more