The latest survey conducted by the island state’s Economic Development Board (EDB) showed that only 7 percent of respondents expected a deterioration of business conditions in the second half of the year.
Within the manufacturing sector, the electronics cluster was the most optimistic with 33 percent of firms expecting an improved business situation in the second half.
“Electronic firms foresee orders being sustained by demand for consumer electronic products such as wireless handsets and mobile computing devices", the EDB said in a statement.
“Manufacturers in the chemicals cluster are the next most optimistic, with a net weighted 19 percent of firms expecting the business situation to improve in the next six months.”
Seven percent of manufacturers in the survey said that they expected to hire more workers in the third quarter of 2010.
The expected increase in employment was largely attributed to the precision engineering and electronics clusters.
Source: Singapore Economic Development Board
