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BUSINESS sentiment continued to be positive for the third quarter (Q3) of 2022 with the confidence indicator of +4.7% compared to +3.5% in the previous quarter (Q2), according to the Department of Statistics Malaysia’s (DOSM) latest business tendency statistics.
DOSM said the services sector anticipates better performance with the confidence indicator of +13.6% in the reference quarter from +5.6% in the last quarter, while sentiment within the industry sector remains upbeat by posting +6.6% compared to +0.8% in Q2 2022.
“Positive sentiment by all of the sub-sectors namely agriculture, mining, manufacturing, electricity, and water induce to this better outlook,” DOSM said in a statement today.
In contrast, the wholesale and retail trade sector predicted an unfavourable business condition with -5.8% as against +15.5% in Q2 2022, while, sentiments within the construction sector remained negative with a confidence indicator of -24.9%, slightly decreased from -23.2% in the past quarter.
DOSM said that looking at the business prospect for the second half of 2022 (H2 2022), the outlook moderated with a net balance of +12.2% from +25.0% registered for the term of April until September 2022.,
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“Sentiments within the services sector improved slightly with a net balance of +26.5% compared to +23.6% recorded previously.
“All sub-sectors under the services sector anticipate a positive outlook for the next six months with insurance, administrative and support services, as well as health sub-sectors being the most optimistic sub-sectors,” it said.
Concurrently, the industry sector foresees a favourable business condition with a net balance +14.5% as against +22.1%.
The statistics department said that conversely, the wholesale and retail trade sector turned pessimistic on the business situation for the next six months ending December 2022 with a net balance -10.4% from +50.0%.
“For the construction sector, the outlook remains downbeat in the forthcoming six months with net balance -10.3% compared to -25.0% recorded previously,” it added. – Bernama, August 25, 2022.