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Business outlook falls below 2008 crisis level to record low: poll

Survey finds large companies more despondent about prospects than smaller counterparts, as sales, profits and orders fell at a faster pace

Annabeth Leow

Published Sun, May 17, 2020 · 09:50 PM

Singapore economy

Singapore

SINGAPORE companies saw their worst levels of business since the Asian financial crisis in the first three months of the year, as the deadly novel coronavirus pandemic forced the economy into hibernation.

Despite a milder decline in end-2019 after six quarters of deterioration, sentiment fell much deeper into negative territory by mid-April, the latest quarterly The Business Times-Singapore University of Social Sciences Business Climate Survey found.