Business outlook rosier after relaxations, but more needed

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Customers returning to restaurants and retail outlets could bring smiles back to some businesses but the entertainment and tourism sectors are likely to struggle for some time. (Bernama pic)PETALING JAYA: The recent moves to reopen parts of the economy should paint a slightly rosier picture for businesses over the rest of the year, but are unlikely to spur a dramatic reversal of fortunes unless more economy boosting policies are adopted.Over the last week, the government announced a host of SOP updates to allow businesses like restaurants and clothing outlets to reopen for fully vaccinated patrons in Phase 1 states.Economist Carmelo Ferlito, CEO of the Center for Market Education, said the unexpected relaxations would undoubtedly help businesses that had survived the prolonged lockdown get back on track.“I think eateries and retail shops are the ones that are going to benefit …