Biz expectations for next six months optimistic

LUMPUR: Business expectations for the six-month period between October and March 2023 remain optimistic with moderate net balance at +5.9 per cent against +12.2 per cent recorded between July and December 2022, according to the Department of Statistics (DoSM).

Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said the wholesale and retail trade sector foresees a favourable business outlook with a net balance of +10.6 per cent, having escalated from a negative trajectory.

“The services sector also expects the business situation to improve with net balance of +30.8 per cent from +26.5 per cent recorded previously,” he said in a statement.

Mohd Uzir said all subsectors under the services sector has a positive outlook for the next six months with insurance, accommodation and health sub-sectors being the most optimistic.

In contrast, the industry sector is pessimistic on business prospect for the six months ending March 2023 with a -7.9 per cent net balance versus +14.5 per cent previously.

At the same time, sentiments within the construction sector remains negative for October 2022 to March 2023 with a net balance of -20.7 per cent compared to -10.3 per cent.

DoSM noted that for the fourth quarter of 2022, business is expected to remain upbeat despite signs of downward moderation with the confidence indicator registering +3.2 per cent versus +4.7 per cent recorded in the third quarter 2022. — Bernama