SINGAPORE, July 31 (Xinhua) -- Business sentiments in Singapore's manufacturing sector are positive, supported by recovery in global electronics demand, despite continuing geopolitical and macroeconomic uncertainties, the Economic Development Board said Wednesday.
A weighted 25 percent of manufacturers expect business conditions to improve this year, while a weighted 2 percent foresee a weaker business outlook.
Within the manufacturing sector, all clusters except the biomedical manufacturing cluster to foresee better business prospects.
The electronics cluster is the most upbeat, with a net weighted balance of 40 percent of firms projecting improved business conditions in the second half of this year.
The optimism is largely attributed to the semiconductors segment, which anticipates better demand for consumer electronics devices and boosting orders for memory, storage and networking chips supported by robust growth in AI applications.
Meanwhile, the biomedical manufacturing cluster expects weaker business conditions in the latter half of this year because of concerns over global macroeconomic uncertainties and soft demand from key markets. ■