Fri 27 August 2021:
Due of the severe and extended COVID-19 epidemic, Malaysian firms are more gloomy about their business prospects in the third quarter of 2021, according to an official survey released on Thursday.
In its Business Tendency Report, the Department of Statistics Malaysia (DOSM) stated that the confidence index dropped to minus 21.3 percent in the reference quarter, down from minus 3.1 percent the previous quarter.
“Within the sectors covered, all sectors anticipate unfavorable business conditions for the third quarter of 2021 in light of severe and prolonged COVID-19 pandemic in this country,” it said.
According to DOSM, the wholesale and retail trade sector’s confidence indicator fell to minus 39.4 percent in the second quarter of 2021, down from 5.6 percent the previous quarter.
Meanwhile, confidence indicators in the industry and services sectors fell to minus 11.0 percent and negative 22.8 percent in the third quarter, respectively, from minus 1.5 percent and minus 6.1 percent in the previous quarter.
Similarly, the construction sector expects its business environment to improve in this reference quarter, with negative 45.0 percent compared to minus 30.5 percent in the previous quarter.
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