Brunei Darussalam Central Bank (BDCB) today published Brunei Darussalam's Business Sentiment Index (BSI) for September 2026. The index is based on monthly surveys of approximately 500 micro, small, medium, and large businesses across 11 economic sectors in all districts of Brunei Darussalam. 

The BSI measures the level of business confidence/sentiment in the country, covering various aspects including current and future business conditions, investment, employment of workers, as well as costs of running the business. With its forward-looking approach, the BSI could serve as a leading macroeconomic indicator for the country. 

Since its launch in August 2020, BDCB has undertaken a review of the BSI methodology to enhance the robustness, consistency and analytical value of the index. While the BSI was expressed on a scale of 0 to 100 under the previous methodology, the calculation constrained the index to a narrow range of 49.0 to 51.0. Following the revision, the methodology now allows the BSI to fully utilise the 0.0 to 100.0 scale. In addition, instead of defining neutrality at a fixed value of 50.0, values between 45.0 and 55.0 are now considered neutral. This enhancement improves the index's sensitivity and interpretability, enabling clearer identification of shifts in sentiment. 

This revision does not affect the economic interpretation of past results, as the underlying sentiment captured by the index remains unchanged. To ensure consistency and comparability over time, historical BSI data have been recalculated using the revised methodology and published in the Statistical Bulletin available on the BDCB website.

The BSI and sub-indices can be interpreted as below:

The headline index, the Current Business Conditions sub-index, stood at 63.2, indicating that businesses generally expected conditions to improve in September 2026 compared to the previous month. This positive sentiment was primarily driven by stronger customer demand and sales, the recovery in business activity following the school holiday period, as well as promotional campaigns and events. Several businesses also reported stronger project activity and improved operational performance. However, some businesses cited hazy conditions and hot weather as factors affecting operations. The one-month ahead sub-index stood at 50.5, within the neutral range, indicating expectations that overall business conditions will remain broadly stable in October 2026. Factors supporting optimistic expectations include an anticipated increase in sales, new and ongoing projects, as well as promotional campaigns and seasonal business opportunities. Nevertheless, concerns over a potential slowdown in business activity towards the end of the year, coupled with uncertainty surrounding project opportunities and market conditions, continued to weigh on the outlook.

The Investment sub-indices remained firmly within the optimistic range, with the current month index at 79.0, the 1M ahead index at 81.1, and the three-month (3M) ahead index at 80.0. In September 2026, increased investments were driven by purchases of machinery and equipment, project-related expenditure, including the procurement of materials, inventory replenishment, and business expansion activities. Looking ahead, the positive investment outlook was supported by planned expenditure on operational assets such as vehicles, technology and infrastructure upgrades, and capacity expansion initiatives to support anticipated growth in business activity and demand.

The Employment sub-index stood at 74.8 for the current month, indicating that employment levels were expected to increase in September 2026. This positive sentiment was driven by ongoing recruitment to support projects, meet operational requirements, and strengthen workforce capacity. Meanwhile, the 1M ahead index stood at 46.5. While some businesses expected to continue hiring to support business growth and upcoming projects, many indicated that their existing workforce remains adequate to meet expected demand and operational needs. 

The Costs sub-index stood at 65.9 for the current month, and 47.6 for October 2026. Businesses reported higher operating costs in September 2026, primarily driven by increased spending on raw materials, maintenance and repair works, as well as employee- and project-related expenses. Several businesses also cited higher logistics and shipping costs, while others faced rising input costs associated with higher crude oil prices. Looking ahead, businesses generally expected overall costs to remain stable in October 2026.

Note: 1M – one month, 3M – three months

In terms of economic sectors:

In terms of business size:

The time-series charts for the BSI and its sub-indices since September 2020 are provided in ANNEX 1. For more information on the BSI, members of the public can refer to the technical notes on the methodology and statistics on the BDCB website at www.bdcb.gov.bn and follow updates on the BSI through future press releases and BDCB’s Instagram account @centralbank.brunei.

Business Sentiment Index (BSI) For Brunei Darussalam for September 2026

Business Sentiment Index (BSI) For Brunei Darussalam for September 2026 (MY)