6% of manufacturers to axe employees

A scanty 1% of them see business improvement ahead.

Only a net 1% of manufacturers see business conditions improving in the manufacturing sector for the second half of 2012, based on the latest survey from the Singapore Economic Development Board.

But even so, a weighted 94 per cent of manufacturers polled expects employment level in the third quarter of 2012 to increase or remain similar, compared to the second quarter of 2012.

The resilience stemmed most from the bullishness of the transport engineering and the general manufacturing industries clusters, which were named the most optimistic about employment opportunities in the three months ahead.

Transport engineering manufacturers are predicting higher ouput in the third quarter of 2012 compared to the previous quarter, while general manufacturing firms are poised to take advantage of higher production related to the Moon Cake Festival and Hari Raya Puasa festivities.