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Singapore overall business outlook remains optimistic

Singapore Commercial Credit Bureau (SCCB) chief executive Audrey Chia has said that the overall business outlook in the city-state remains optimistic despite the moderation. This is in reaction to a report saying that local business sentiment has moderated slightly for the second consecutive quarter in the third quarter of 2022. The SCCB’s quarterly Business Optimism Index (BOI) slid to +5.10 percentage points from +5.35 percentage points in the previous quarter. However, Chia said the global uncertainties surrounding the Russia-Ukraine conflict as well as China’s slower gross domestic product growth are expected to weigh on sentiments in the coming months.

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