SINGAPORE, March 18 (Xinhua) -- Confidence among Singapore's CEOs has declined, with inflation and pricing pressures cited as major concerns, according to a report released on Tuesday.

The EY-Parthenon CEO Outlook Survey showed that overall CEO confidence among Singapore respondents fell from 72 percent in September 2024 to 54 percent. The survey assessed the sentiment of 1,200 business leaders globally, including 40 from Singapore.

Despite the dip, more than half of Singaporean CEOs remain optimistic about successfully reshaping their business models for the future.

In contrast, global CEO confidence edged up from 70.5 percent in September 2024 to 73.5 percent, even as worries over rapid technological change, evolving sustainability agendas, and geopolitical tensions persist. Nearly half of global respondents expect these challenges to intensify in 2025.

Andre Toh, modeling and economics leader for EY ASEAN and Asia-Pacific Valuation, said that the combination of high global operational costs and heightened geopolitical and macroeconomic uncertainty is weighing on Singapore's corporate leaders, according to local newspaper The Business Times. Enditem

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