Singapore’s business outlook softened in the second quarter of 2026, with the Business Expectations indicator easing to 12.00 from 17.00 in the first quarter of the year. The latest reading, updated on 31 July 2026, signals that while sentiment remains positive, confidence among firms has moderated compared with the start of 2026.
The decline from the first quarter’s 17.00 level suggests companies are more cautious in their forward-looking assessments, potentially reflecting emerging concerns over demand conditions, costs, or external headwinds. However, the still-positive 12.00 reading indicates that overall expectations for business activity continue to point toward expansion rather than contraction.
Investors and policymakers will be watching subsequent releases closely to see whether this second-quarter dip marks the beginning of a sustained cooling in sentiment or a temporary pause following stronger optimism earlier in the year.
