The Business Times
business-time-50

Singapore services expected to stay optimistic, as cheer in factory sector cools

google-preferred-sourceAdd BT as a preferred source
Annabeth Leow

Annabeth Leow

Published Fri, Apr 29, 2022 · 07:47 PM
    • The services industries face an upside bias as the economy normalises, said UOB economist Barnabas Gan.
    • The services industries face an upside bias as the economy normalises, said UOB economist Barnabas Gan. ST PHOTO: KUA CHEE SIONG

    SINGAPORE’S services sector has stayed rosy on the 6-month outlook, but manufacturing sentiment is softening on rising costs, official business surveys indicated on Friday (Apr 29).

    Despite the expected uplift from the broad domestic and border reopening, the divergent trend is expected to continue as Singapore’s recovering economy normalises, analysts told The Business Times.

    UOB economist Barnabas Gan remarked that manufacturing and trade “have been supporting growth and shouldering the lion’s share of the recovery” during the Covid-19 pandemic in the past 2 years, “so that gives an upside bias to the services industries”.

    Singapore economySingapore manufacturingSingapore servicesBusiness sentiment

    TRENDING NOW

    Buntono is accused of possessing properties that, in part, represent his benefits from income tax evasion, including a Lamborghini Aventador similar to the one pictured.

    Lamborghini-driving boss of Eminent Frog Porridge charged with S$3.8 million tax evasion, money laundering

    Hong Kong youth no longer see a stable job and a lifetime of work as the only life goal – instead, they place greater emphasis on freedom and quality of life.

    Not in education, employment or training: Why more Hong Kong youths are opting out of work

    Vietnam has the highest rate of generative AI usage among the South-east Asian markets surveyed, with 36% of workers saying they used such tools “nearly every day”.

    Vietnam workers keenest on AI in South-east Asia; Singapore employees among most sceptical: survey

    Stash will remain a standalone entity as part of Grab’s business, retaining its current recurring revenue model, services and brand.

    Grab completes US$425 million acquisition of US-based Stash Financial

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More