Central Bank of Brunei Darussalam publishes January 2025 Business Sentiment Index with current business conditions at 50.3

The Central Bank of Brunei Darussalam (BDCB) released its Business Sentiment Index (BSI) for January 2025, with the headline Current Business Conditions sub-index at 50.3, signalling a marginal improvement in sentiment versus the previous month. The one-month-ahead business conditions index was also 50.3, with some respondents expressing caution about the outlook. The BSI is based on a monthly survey of around 500 businesses across 11 sectors and covers current and expected conditions, investment, employment and operating costs. Respondents linked January’s slightly more optimistic tone to post-holiday recovery, Chinese New Year-related demand and large-scale events including the Consumer Fair and Trade Expo, while noting that a shorter working month could weigh on activity in February. Investment stood at 50.1 for the current month and for one- and three-month-ahead horizons, employment was 50.2 for the current month and 50.3 one month ahead, and costs were 49.9 for both the current month and one month ahead, with lower-cost expectations driven mainly by the Oil and Gas Related, Transport and Communications and Manufacturing sectors. Eight sectors were above 50, led by Health and Education (50.6) and Wholesale and Retail Trade (50.5), while Transport and Communication (49.3), Construction (49.9) and Real Estate and Ownership of Dwellings (49.9) were below 50; by firm size, only large businesses were above 50 at 50.3, with micro, small and medium firms at 50.0.