Malaysia’s local businesses remain pessimistic for their business condition in the third quarter of the year (3Q21) amid Covid resurgence nationwide.
The Department of Statistics Malaysia (DOSM) said in its Business Tendency Report that the confidence indicator further dipped to -21.3 per cent in the reference quarter as against -3.1 per cent in the preceding quarter.
“Within the sectors covered, all sectors anticipate unfavorable business conditions for the third quarter 2021 in light of severe and prolonged Covid-19 pandemic in this country,” chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement on Thursday (Aug 26).
“The confidence indicator of the Wholesale & Retail Trade sector plunge to negative trajectory with -39.4 per cent as compared to +5.6 per cent in the second quarter of 2021 due to both subsectors namely Wholesale Trade and Retail Trade are less confident towards their business situation in the next three months,” he added.
Meanwhile, the Industry and Services sectors indicate more pessimistic with confidence indicator dropped to -11.0 per cent and -22.8 per cent respectively in the third quarter from -1.5 per cent and -6.1 per cent recorded in the previous quarter.
Concurrently, construction sector also anticipates their business situation to recede in this reference quarter with -45.0 per cent as against -30.5 per cent recorded in the past quarter. – (The Malaysian Reserve)
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