Fewer businesses feel optimistic about 1Q24 

Only 13% expect their business situation to be better.

Thirteen per cent of businesses expect a better business situation in 1Q24, whilst 12% expect it to be worse, according to C&SD’s Quarterly Business Tendency Survey.

Compared to 4Q23, the proportion of businesses expecting a better business situation declined, dropping from 17%.

On the other hand, the proportion of those expecting a worse business situation increased from 9% in 4Q23.

Notably, more businesses in the financing and insurance sector expect a better business situation in 1Q24 versus 4Q23.

Most businesses surveyed expect their business output to increase on balance or remain broadly unchanged in 1Q24, whilst the construction sector expects a decrease.

Meanwhile, a majority also expect their employment to increase in balance or remain broadly unchanged in 1Q24, particularly businesses in the accommodation and food services, manufacturing, financing, insurance, and real estate sectors.

On the other hand, businesses in the information and communications sector expect a decrease in employment.