Singapore CEOs' hopes for better revenues ahead fade

Only 7% are 'very confident' about their topline growth.

A mere 7% of business leaders in Singapore surveyed in this year’s APEC CEO Survey by PwC are ‘very confident’ about revenue growth over the next 12 months (28% in APEC, 40% in ASEAN).

It’s the second year in a row CEOs have had a subdued outlook for revenue growth.

In sharp contrast, businesses leaders in APEC’s youthful, faster-growing economies have higher levels of confidence in near term revenue growth than before.

This sentiment is also reflected by CEOs in ASEAN where 40% of business leaders indicated that they were ‘very confident’.

PwC surveyed over 1,100 CEOs in 21 APEC economies, in the run up to the APEC Business Summit in Lima, Peru (17-19 November).

On a positive note, majority (60%) informed that they are ‘somewhat confident’ in the year to come; coupled with the Monetary Authority of Singapore (MAS) holding off on easing measures despite receding growth, this may be indicative of the robustness of the Singapore market.