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Singapore's services sector less sanguine about next half year: DoS survey

Friday, October 31, 2014 - 13:01
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Firms in Singapore's services sector are less upbeat about their short-term business prospects than they were a quarter ago.

FIRMS in Singapore's services sector are less upbeat about their short-term business prospects than they were a quarter ago.

Of the 1,500 services firms polled on their quarterly business expectations by the Department of Statistics (DoS) between September and mid-October this year, a weighted 18 per cent of firms said they expected business conditions to improve over the next six months, while a weighted 11 per cent of firms said they were bracing themselves for slower business.

This leaves a positive net weighted balance of 7 per cent, DoS said on Friday - a lower positive magnitude than the 13 per cent reported in the previous edition of the survey.

The net weighted balance is a widely-used measure of the nature and extent of business sentiment.

Within the services sector, all industries except the real estate industry expressed optimism about business conditions between this month and march 2015.

DoS said: "Real estate developers continue to cite the series of government measures implemented, including the Additional Buyer's Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR), as the reasons for the negative sentiments."

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