Business Expectations For Next Six Months Optimistic With Moderate Net Balance : DoSM

KUALA LUMPUR, Nov 29 (Bernama) -- 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 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 today. Mohd Uzir said all sub-sectors 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