31 January 2012 08:05 [Source: ICIS news]
“In the chemicals cluster, a net weighted balance of 5% of firms are less optimistic about the business situation in the first six months of 2012 compared to a quarter ago,” the Economic Development Board (EDB) said.
Within the chemicals cluster, the petroleum segment foresees a weak business outlook because of high crude oil prices and poor refining margins, while the rest expect business conditions to remain similar to a quarter ago, the board said.
Chemical firms in
Overall, the city-state’s manufacturing sector remains pessimistic about business prospects in the first half of 2012 amid uncertainties over the global economy, the statement said.
A weighted 18% of manufacturers expect deterioration in business conditions, while a weighted 7% expect business conditions to improve, according to the survey.
A net weighted balance of 11% of manufacturers expect the business situation in the first six months of this year to be less favourable than that of the fourth quarter of 2011, the EDB added.
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