The Central Bank of Brunei Darussalam published Brunei Darussalam’s Business Sentiment Index (BSI) for May 2025, based on surveys of more than 500 businesses across 11 sectors. The Current Business Conditions sub-index came in at 49.7, signalling slightly weaker sentiment than the previous month, with the overall tilt to pessimism driven mainly by the Oil & Gas Related sector; the one-month-ahead business conditions index rose to 50.3, indicating a more positive near-term outlook that was skewed toward large enterprises. Underlying drivers cited for May included post-festivities seasonal slowing, project completion and supply chain-related pressures such as rising raw material costs and market price pressures, offset in some sectors by new project wins and business and facility expansions. Sub-indices were broadly near neutral: Investment stood at 50.1 for the current month and one month ahead and 50.4 for three months ahead; Employment was 49.7 currently and 50.2 one month ahead; and Costs were 50.1 currently and 49.7 one month ahead. By sector, Real Estate & Ownership of Dwellings was the most optimistic (50.7) while Wholesale & Retail Trade was the weakest (49.5), and by business size all categories were marginally below 50, with large firms at 49.7 and micro firms at 49.9.