Chart of the Day: Real estate sector sees dark skies ahead

Almost 2 in 10 remain bearish.

According to SingStat's Business Expectations Survey, within the real estate industry, the majority of firms (a weighted 68%) expect business to remain unchanged for the period of Oct 2012 - Mar 2013.

A weighted 7% of firms expects business to improve, while a weighted 25% of firms projects slower business.

Overall, a net weighted balance of 18% of firms in the real estate industry anticipates less favourable business conditions.

The majority of firms in the services sector (a weighted 63%) expect the business situation to remain unchanged for the period of Oct 2012 - Mar 2013 compared with Apr - Sep 2012.

A weighted 19% of firms expresses a positive outlook, while a weighted 18% of firms expects business conditions to deteriorate. Overall, a net weighted balance of 1% of firms anticipates an improved business situation for the six-month period ending Mar 2013.

The magnitude of the net weighted balance recorded for Oct 2012 - Mar 2013 is comparable to the positive net weighted balance of 2% recorded for Jul - Dec 2012 in the previous survey. The positive net weighted balance is in contrast to the negative net weighted balance of 9% registered in the survey conducted over the same period last year