Overview

FORECAST OF BUSINESS PERFORMANCE FOR THE THIRD QUARTER 2022

Business sentiment continues positive for the third quarter of 2022 with confidence indicator of +4.7 per cent compared to +3.5 per cent in the previous quarter.

By sector, the Services and Industry sectors expect favourable business situation in the third quarter of 2022. Services sector anticipates better performance with confidence indicator of +13.6 per cent in the reference quarter from +5.6 per cent in the last quarter. Simultaneously, sentiments within Industry sector remains upbeat by posted +6.6 per cent compared to +0.8 per cent in the second quarter of 2022. Positive sentiment by all of the sub-sectors namely Agriculture, Mining, Manufacturing and Electricity & Water induce to this better outlook.

In contrast, Wholesale & Retail Trade sector predicts an unfavourable business condition with -5.8 per cent as against +15.5 per cent in the second quarter of 2022. While, sentiments within Construction sector remains negative with confidence indicator of -24.9 per cent, slightly decreased from -23.2 per cent in the past quarter.

Expectations of Gross Revenue and Number of Employees                 

In terms of gross revenue, 33.7 per cent of respondents anticipate an increase in gross revenue, whilst 25.9 per cent predict a decrease in the third quarter of 2022 which in consequence led to a net balance of +7.8 per cent. Concomitantly, 40.4 per cent of respondents expect their gross revenue to maintain.

In regard to employment trend, 69.6 per cent of the businesses forecast to maintain their number of workers in the reference quarter. About 20.9 per cent of businesses plan to recruit more workers, while 9.5 per cent intend to reduce their workers then contributed to a positive net balance of +11.4 per cent.

EXPECTATIONS OF BUSINESS PERFORMANCE IN JULY TO DECEMBER 2022

Looking at the business prospect for second half of 2022, the outlook moderated with a net balance of +12.2 per cent from +25.0 per cent registered for the term of April until September 2022. Sentiments within Services sector improved slightly with a net balance of +26.5 per cent compared to +23.6 per cent recorded previously. All sub-sectors under Services sector anticipate positive outlook for the next six months where Insurance, Administrative & Support Services as well as Health sub-sectors being the most optimistic sub-sectors. Concurrently, Industry sector foresee a favourable business condition with net balance +14.5 per cent as against +22.1 per cent.

Conversely, Wholesale & Retail Trade sector turns pessimism on the business situation for the next six months ending December 2022 with net balance -10.4 per cent from +50.0 per cent. For the Construction sector, the outlook remains downbeat in the forthcoming six months with net balance -10.3 per cent compared to -25.0 per cent recorded previously.

The full publication of the Business Tendency Statistics Third Quarter 2022 can be downloaded through  eStatistik portal.

Released by:

DEPARTMENT OF STATISTICS, MALAYSIA

25 August 2022

Contact person:

Baharudin Mohamad
Public Relation Officer
Strategic Communication and International Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : baharudin[at]dosm.gov.my

For interviews, press statement and clarification to the media, contact:

Baharudin Mohamad

Public Relation Officer

Email: baharudin[at]dosm.gov.my

Phone: 03 8885 7942

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