KUALA LUMPUR (XINHUA) – Malaysia’s businesses have returned to optimism with the business confidence recording an increase of 0.7 per cent for the third quarter, an official survey showed yesterday.
The Department of Statistics Malaysia said businesses foresee an improving business situation for the third quarter with a positive confidence indicator of 0.7 per cent as compared to minus 3.1 per cent in the second quarter.
This is supported by factors including the stability of job market, the upsurge in domestic tourism and optimistic expectation in the health tourism industry. Positive business expectation is largely bolstered by the services and industry sectors.
Services sector continues to be optimistic about the business outlook with a confidence indicator of 6.1 per cent as compared to 3.9 per cent in the previous quarter.
Meanwhile, sentiments in the industry sector upturn to the positive trajectory by posting a confidence indicator of 1.3 per cent as against minus 2.1 per cent in the second quarter.
On the other hand, construction sector foresees negative business conditions with a confidence indicator of minus 26.9 per cent for the third quarter. Wholesale and retail trade sector recorded an improved confidence indicator of minus 1.5 per cent for the third quarter, compared to minus 10.2 per cent in the second quarter.
