Although the overall business sentiment for Asia as a whole has risen to a three-year high, businesses in Singapore are the least optimistic in the region.
With a sub-index score of 62, it was the lowest as compared to the overall Asia sentiment index score of 74. However, this was actually the “strongest lowest sub index” the Thomson Reuters and INSEAD survey has seen since it began in 2009.
The rise in overall business confidence in Asia was propelled by a slew of favourable economic data across the region and easing concerns over the health of China’s economy, according to the report published on June 21, 2017.
“The world economy is starting to look more solid,” Singapore-based economics professor Antonio Fatas at global business school INSEAD told Reuters. “The US is reaching good levels of GDP and employment, with Europe finally recovering and Asia seeing less risks ahead.
"China looks like it’s in a more stable situation after having ups and downs because of capital outflows over the last couple of years and also the risks of a debt crisis,” he added.
