Singapore manufacturers foresee weaker business outlook for 2H2022

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Singapore manufacturers foresee weaker business outlook for 2H2022

Singapore manufacturers are not optimistic about the business outlook for 2H2022. They cited supply chain challenges and operating cost pressures amid global uncertainties. 20% of firms surveyed by the Economic Development Board said they expect weaker business. The electronics cluster is the least upbeat, as semiconductor and data storage firms are concerned about supply chain disruptions. The transport and precision engineering clusters are not as pessimistic, as they expect demand for aircraft maintenance and repair to remain strong as global travel recovers.

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