Thomson Reuters: Singaporean companies most pessmistic in Asia-Pacific

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By: Kheng-Liang Tan

According to a survey report by Thomson Reuters, companies within the Asia-Pacific region are more optimistic than everĀ despiteĀ volatile oil prices and uncertainty from November’s US Election.

However, theĀ 17 Singaporean companies which participated in the survey painted a contrasting picture: theĀ Business Sentiment index tumbled 25 points from 63 to 38.

Not only does this make Singapore companies the most pessimistic for the future outlook, the drop is the steepest among all economies surveyed.

Factors cited by Singaporean companies include a labor shortage and a flagging oil and gas sector. In addition, trade numbers show thatĀ exports have stagnated.

As a benchmark, a reading below 50 indicates an overall negativeĀ outlook.