Businesses anticipate better conditions in Q1 2024
Published on: Tuesday, February 27, 2024
By: Bernama
Sentiment in the wholesale and retail trade sector has returned to positive after recording a negative trend for the previous three quarters, says the statistics department.
PETALING JAYA: Businesses are anticipating improved conditions in the first quarter (Q1) of 2024 with a positive confidence indicator of 4.2%, up from 3.2% in the fourth quarter (Q4) of 2023, said the statistics department.
In a statement, chief statistician Uzir Mahidin said businesses are confident about the business environment in this quarter, with the confidence indicator continuing its increasing trend since the third quarter of 2023.
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He said all sectors expect stronger business conditions in Q1 2024.
“Sentiment in the wholesale and retail trade sector has returned to positive after recording a negative trend for the previous three quarters, posting +4.7% compared to -3.6% in Q4 2023.
“The services sector continues to be optimistic, with the confidence indicator increasing to +8.6% as against +6.3% in the last quarter,” he said.
After reverting to a positive trajectory, the construction sector continued its positive momentum with a confidence indicator of +10.3% from +1.7% in the previous quarter.
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Meanwhile, the industry sector remained on a positive trajectory, with a confidence indicator of +0.6% for the quarter under review compared to +4% in Q4 2023.
Looking ahead, Uzir said business perception for the first half of 2024 has improved marginally with a net balance of +10% against the +9.8% recorded previously, with all sectors showing positive signs.
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He said the wholesale and retail trade sector is turning optimistic about the business landscape in the first half of 2024.
Uzir said sentiment within the wholesale and retail trade sector has improved with a net balance of +15.2%, bolstered by a brighter outlook in both wholesale trade and retail trade.
“The construction sector likewise anticipates a better business outlook, with a net balance of +6.9% for the period of January to June 2024.
“Sentiment in the services sector also remains positive, with a net balance of +24% compared to the +19% recorded in the last quarter,” Uzir added.
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