KUALA LUMPUR: Business is expected to slow down in the second quarter of 2016, as shown by the confidence indicator of minus 3.7% compared with minus 0.7% in the preceding quarter, the statistics department said.
The confidence indicator summarises the overall views on the short-term business situation in various sectors of Malaysia, the department said in a statement on Tuesday.
It said the business performance of all sectors - construction, wholesale and retail trade, services and industry - is expected to decline in the second quarter with a confidence indicator of minus 14.5%, minus 8.2%, minus 3.7% and minus 1.8%, respectively.
In terms of number of employees, 16% of establishments forecast an increase with 11.8% predicting a decrease in the second quarter.
The magnitude of the positive net balance for the number of employees in the second quarter was lower (4.2%) than the 7.1% registered for the first quarter of 2016, it added.
The department said business performance in the first quarter was much better with an overall net balance of all sectors minus 6.4% compared with minus 8.3% in the previous quarter.
"A significant majority of establishments (63%) reported the current situation of their business as remaining the same, while 15.3% reported an improvement and 21.7% reported less favourable conditions," it added. - Bernama
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