The transport engineering cluster was the most optimistic.
Business sentiments in the manufacturing sector remained mostly positive despite ongoing geopolitical and economic challenges, according to EDB.
“A weighted 20% of manufacturers expect business conditions to improve whilst a weighted 10% foresee a weaker outlook,” the report stated.
Overall, a net weighted balance of 10% of manufacturing firms anticipate an improved business environment from October 2024 to March 2025.
Within the manufacturing industry, the transport engineering cluster stood out as the most optimistic, with a net 30% of firms expecting favourable conditions from October 2024 to March 2025, led by robust demand in aerospace and marine & offshore engineering.
This optimism is fueled by strong global air travel and increased orders in the oil & gas and renewables sectors.
In the electronics cluster, a net weighted balance of 14% of firms foresee better business conditions in the coming months.
“This positive trend is driven primarily by the semiconductor segment, where growth in AI applications continues to boost demand for memory, storage, and networking chips,” the report noted.
Within the general manufacturing cluster, a net weighted balance of 16% of firms predicts a promising outlook, with the food, beverages & tobacco segment anticipating higher demand as the festive season approaches.
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