Business Confidence in Singapore decreased to -6 points in the first quarter of 2025 from 16 points in the fourth quarter of 2024. This dataset provides - Singapore Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news.

According a business sentiment survey conducted in Singapore in August 2020, ** percent of businesses and enterprises surveyed predicted that they would be able to sustain their businesses, albeit with thinner profit margins or small operating losses. Larger companies or enterprises were more likely able to sustain their businesses, compared to small and medium enterprises (SME).

Key information about Singapore Business Confidence Growth

• Singapore Business Confidence grew 0.2 % in Feb 2025, compared with an increase of 0.4 % YoY in the previous month.
• Singapore Business Confidence: YoY Change is updated monthly, available from Jan 2000 to Feb 2025, with an averaged rate of -0.2 %.
• The data reached an all-high of 22.0 % in Mar 2000 and a record low of -37.8 % in Apr 2001.

CEIC calculates Business Confidence Change from monthly Purchasing Manager Index. The Singapore Institute of Purchasing and Materials Management provides Purchasing Manager Index with range from 0 to 100 with neutral point 50. Business Confidence covers Manufacturing sector only.

According to a survey of businesses in Singapore, business sentiments for the 3rd quarter of 2023 decreased to 3.98 percentage points from 4.6 percentage points in the previous quarter. Despite the recovery from the COVID-19 pandemic in 2022, business confidence is falling due to high inflation and a global economic downturn.

According to the national business survey conducted in Singapore in November 2020, ** percent of small and medium businesses and enterprises surveyed were confident that they could sustain their business during the COVID-19 pandemic. The national and global lockdowns imposed during the COVID-19 pandemic has had an adverse impact on businesses and the economy.

According to a business sentiment survey conducted in Singapore in August 2020, 63 percent of the businesses and enterprises surveyed believed that managing manpower is one of their top challenges to face over the next 12 months. The inability to do business travel is more challenging for large companies or enterprises than for small and medium enterprises (SME).

According to a survey of businesses in Singapore, ***** out of six indicators showed quarter-on-quarter decreases, with only net profits seeing an increase to **** percentage points from zero percentage points in the previous quarter. Overall, business sentiments have been decreasing in the last two quarters due to rising inflation and a volatile global market.

In Singapore, during the first quarter of 2022, retail firms' attitudes on their current business situation seemed fairly optimistic. The sentiments of ** percent of the retailers seemed average towards the business situation while only ** percent of the retailers attitudes seemed to be very poor during the first quarter.

The global speech analytics market, valued at $3.13 billion in 2025, is experiencing robust growth, projected to expand at a compound annual growth rate (CAGR) of 15.61% from 2025 to 2033. This significant expansion is driven by several key factors. Increasing adoption of cloud-based solutions (On-Demand deployment) offers scalability and cost-effectiveness, appealing to both small and medium-sized enterprises (SMEs) and large enterprises. The BFSI (Banking, Financial Services, and Insurance) sector, along with telecommunications and healthcare, are leading adopters, leveraging speech analytics for improved customer service, risk management, and regulatory compliance. Furthermore, the rise of sophisticated AI-powered analytics allows for deeper insights into customer interactions, leading to more effective business strategies and improved operational efficiency. The market's growth is further fueled by the increasing volume of customer interactions across various channels, demanding efficient and insightful analysis for businesses to remain competitive. However, concerns regarding data privacy and security, coupled with the high initial investment required for implementation, pose challenges to broader market penetration. Despite these restraints, the market's future remains optimistic. The ongoing development of advanced analytical capabilities, such as sentiment analysis and speaker recognition, will further enhance the value proposition of speech analytics. The integration of speech analytics with other technologies, like CRM systems, will streamline workflows and improve overall business processes. Geographic expansion, particularly in rapidly developing economies within Asia Pacific, will contribute significantly to the market's expansion in the coming years. The ongoing focus on customer experience management will continue to be a primary driver for adoption across various industries, solidifying the long-term growth potential of the speech analytics market. Recent developments include: August 2022 - CallMiner, the leading provider of conversation intelligence to drive business improvement, declared new integrations with Genesys Cloud CX and Amazon Connect, enabling organizations to gain quick, seamless access to powerful real-time analytics capabilities within existing or future Contact Center as a Service (CCaaS) deployments. With these new integrations, organizations can leverage CallMiner's industry-leading platform based on live voice audio availability., August 2022 - NICE announced that Tele-Centre Services Pte Ltd, a Singapore- based omnichannel business process outsourcing (BPO) provider, has chosen NICE Interaction Analytics with Quality Central to improve agent satisfaction and business compliance levels. Employing NICE Interaction Analytics allows Tele-Center to understand customer insights to enhance overall customer satisfaction and help drive business process transformation.. Key drivers for this market are: Leveraging Analytics For Customer Retention And Offering Greater Customer Satisfaction, Rising Number of E-commerce Platforms. Potential restraints include: High Implementation Costs. Notable trends are: Telecommunications Sector is Expected to Occupy Significant Market Share.

Singapore's construction sector was expected to contract by 10.3 percent in 2020, as a result of the COVID-19 pandemic. The buildings construction sector was forecasted to contract by 11.5 percent in that year. The decrease in foreign direct investments due to a weakened global economy and business sentiment has especially affected this sector.