Business confidence for the fourth quarter of 2022 (4Q2022) is upbeat at +3.2% with the services sector, industry, wholesale and retail trade, registering a positive outlook, said the Department of Statistics Malaysia (DOSM), adding that the construction sector continued to be the most pessimistic.
In a statement on Tuesday (Nov 29), DOSM said business sentiment in the services sector remains favourable at +9.2% in 4Q2022 (3Q2022: +13.6%), while it was +3.7% (3Q2022: +6.6%) for the industry sector.
It said that the wholesale and retail trade sector expects an improved business situation as the confidence indicator rebounded to a positive trajectory at +1.9% in 4Q2022 from -5.8% in 3Q2022, DOSM said.
“This positive outlook is supported by the retail trade sub-sector where businesses turned optimistic on their business conditions,” it added.
DOSM also revealed that the construction sector continues as the most pessimistic sector with a confidence indicator of -29.2% in 4Q2022 from -24.9% in 3Q2022.
The statistics are based on the Business Tendency Survey, which is conducted on a quarterly basis.
The confidence indicator registering +3.2% in 4Q2022 is a downward moderation compared to +4.7% recorded in 3Q2022.
