Malaysia's business confidence weakens in Q3 due to COVID-19

Malaysia's businesses are more pessimistic about their business condition in the third quarter of 2021 (Source: themalaysianreserve)

In an official survey released on August 26, the Department of Statistics Malaysia (DOSM) said that the confidence indicator further dipped to minus 21.3 percent in the reference quarter as against minus 3.1 percent in the preceding one.

The indicator of the wholesale and retail trade sector plunged to a negative trajectory with minus 39.4 percent as compared to 5.6 percent in the second quarter of 2021.

Meanwhile, the industry and services sectors indicated more pessimism with confidence indicators falling to minus 11 percent and minus 22.8 percent respectively in the Q3, from minus 1.5 percent and minus 6.1 percent recorded in the previous quarter.

Concurrently, the construction sector also anticipates their business situation to recede in this reference quarter with minus 45 percent as against minus 30.5 percent recorded in the past quarter./.

VNA