Singapore Business Federation National Business Survey Business Sentiments Key Trends & Metrics
The Singapore Business Federation’s flagship National Business Survey (NBS) provides quarterly insights into the sentiments and concerns of Singapore businesses. The Business Sentiments Dashboard brings together findings from 2025 onwards to show where businesses stand today and how their outlook is changing.
Satisfaction with the current business climate in Singapore
Satisfaction with Singapore’s business climate declined in Q2 2026 amid continued energy and cost pressures following the disruptions in Q1.
- Very Satisfied / Satisfied
- Neutral
- Dissatisfied / Very Dissatisfied
Satisfaction with ASEAN and global business conditions
ASEAN region
Global Business Climate
- Very Satisfied / Satisfied
- Neutral
- Dissatisfied / Very Dissatisfied
Outlook on Singapore Economy in the Next 12 Months
Business optimism towards Singapore’s future economic prospects improved in Q2 2026, despite subdued satisfaction with current conditions.
Fewer businesses (32%) expect conditions to worsen over the next 12 months, down from 41% in Q1 2026, while the majority remain cautious, with 53% adopting a wait-and-see outlook.
- Will improve
- Will remain the same
- Will worsen
Business Sentiment Index
The Business Sentiment Index (BSI) measures business confidence in Singapore, offering insights into revenue, hiring, and investment trends to support informed decision-making in a shifting economic landscape. The index comprises 7 key business sentiment components. Each component is assigned a fixed weight to ensure consistent interpretation and comparability.
Business sentiment recovered in Q2 2026, with the BSI rising by 2.0 points to 53.3 and broadly reversing the decline in Q1.
The rebound was likely supported by resilient economic growth in Singapore and the absence of further escalation or shipping disruptions in the Gulf. However, ongoing energy-market pressures and uncertainty surrounding U.S. trade policy may limit further optimism.
Components of the Business Sentiment Index
Explore the Findings
See how business sentiments have changed over time across SMEs and large companies. Choose an indicator to explore the findings in detail.