Business optimism index in services sector inches up to 9%

But the real estate industry expects business to deteriorate amidst property curbs.

More firms engaged in the services sector have become more positive as +9% of them believe that business will be more favourable for H2 2018 from +8% in H1, the Department of Statistics Singapore (SingStat) revealed.

The agency found that 17% in the services sector are optimistic about business for the second half of the year. Meanwhile, 75% believe businesses will remain stable whilst 8% think that businesses will deteriorate.

All industries within the services sector are anticipating favourable conditions for H2 2018 except for the real estate industry (-13%).

“In particular, real estate developers expect the recent government property cooling measures including the Additional Buyer’s Stamp Duty (ABSD) and the Loan-to-Value limits to have a negative impact on the property market,” SingStat noted.

Amongst the industries in the sector, accommodation (+38%) and food and beverage (+37%) are the most optimistic for H2 2018, followed by business services (+17%), financial and insurance (+14%), and recreation, community, and personal services (+12%).

Other industries including information and communication (+9%), retail trade (+7%), transport and storage (+6%), and wholesale trade (+4%) also displayed positive outlook for their businesses.

Also Read

Singapore ready to tap Philippine market potential

Export decline not tied to global demand, says expert

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit