KUALA LUMPUR, Aug 25 — Business sentiment continued to be positive for the third quarter (Q3) of 2022 with the confidence indicator of +4.7 per cent compared to +3.5 per cent in the previous quarter (Q2), according to the Department of Statistics Malaysia’s (DOSM) latest business tendency statistics.
It said the services sector anticipates better performance with the confidence indicator of +13.6 per cent in the reference quarter from +5.6 per cent in the last quarter, while sentiment within the industry sector remains upbeat by posting +6.6 per cent compared to +0.8 per cent in Q2 2022.
“Positive sentiment by all of the sub-sectors namely agriculture, mining, manufacturing and 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 per cent as against +15.5 per cent in Q2 2022, while, sentiments within the construction sector remained negative with a confidence indicator of -24.9 per cent, slightly decreased from -23.2 per cent 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 per cent from +25.0 per cent registered for the term of April until September 2022.
“Sentiments within the services sector improved slightly with a net balance of +26.5 per cent compared to +23.6 per cent recorded previously.
“All sub-sectors under the services sector anticipate positive outlook for the next six months where 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 per cent as against +22.1 per cent.
DOSM added that conversely, the wholesale and retail trade sector turned pessimism on the business situation for the next six months ending December 2022 with a net balance -10.4 per cent from +50.0 per cent.
“For the construction sector, the outlook remains downbeat in the forthcoming six months with net balance -10.3 per cent compared to -25.0 per cent recorded previously,” it said.
— Bernama
