KUALA LUMPUR: Business expectations for the six-month period between October and March 2023 remain optimistic with moderate net balance at +5.9% against +12.2% 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%, having escalated from a negative trajectory.
“The services sector also expects the business situation to improve with net balance of +30.8% from +26.5% recorded previously,” he said in a statement on Nov 29.
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% net balance versus +14.5% 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% compared to -10.3%.
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% versus +4.7% recorded in the third quarter 2022. - Bernama
