Singapore Releases Q4 Services Sector Business Expectations Survey
Around 27 per cent of firms in the services sector is optimistic about the business situation for the period of October 2010 till March 2011.
This was revealed in the Business Expectations Survey for the services sector for Q4 2010 conducted by the Department of Statistics.
The Business Expectations Survey for the services sector for fourth quarter 2010 was conducted from September to mid-October 2010. General Business Outlook for October 2010 – March 2011
On the whole, a net weighted balance of 27% of firms in the services sector is optimistic about the business situation for the period of Oct 2010 – Mar 2011. The magnitude is smaller than the net weighted balance of 33% recorded for Jul – Dec 2010 in previous quarter’s survey but larger than the net weighted balance of 17% registered in the same period of the previous year (i.e. Oct 2009 – Mar 2010).
Within the wholesale trade industry, a net weighted balance of 38% of traders expects a positive business outlook for the period of Oct 2010 – Mar 2011 over Apr – Sep 2010 (chart 1). In particular, dealers of chemicals & chemical products, industrial machinery & equipment, electronic components, computers & accessories and motor vehicles are among those that express positive sentiments.
For the retail trade industry, a net weighted balance of 29% of retailers predicts favorable business climate for the next six months ending Mar 2011.
These include department stores, supermarkets owners as well as retailers of cosmetics & toiletries, wearing apparel & footwear and jewelery & watches.
In the transport & storage industry, a net weighted balance of 22% of firms expects the business environment to improve for the period of Oct 2010 – Mar 2011.
In particular, firms engaged in air transport and supporting services to air transport services are optimistic.
A net weighted balance of 39% of hoteliers foresees better business prospects for the six-month period ending Mar 2011.
At the same time, positive business sentiments for the catering trade industry are expected in the coming months.
In particular, conventional restaurants and fast food outlets expect the demand for their services to increase during the period.
In the information & communications industry, a net weighted balance of 21% of firms predict favourable business conditions for the period of Oct 2010 – Mar 2011. Within the financial services industry, a net weighted balance of 34% of firms expects a healthy business outlook for the six-month period ending Mar 2011.
These include banks & finance companies, stock, share & bond brokers, fund managers and insurance companies. Firms in the real estate industry, especially real estate developers, anticipate a decline in business volume for the period of Oct 2010 – Mar 2011 compared with Apr – Sep 2010.
In the business services industry, a net weighted balance of 12% of firms expects their business to improve. Firms engaged in engineering activities and research & experiment development as well as labor recruitment agencies and travel agencies are optimistic about business conditions ahead.
Within the amusement & recreation industry, a net weighted balance of 65% of firms is upbeat about business conditions in the coming months. Forecast for Fourth Quarter 2010
On the whole, a net weighted balance of 24% and 21% of firms in the services sector anticipates revenue and manpower to increase respectively for fourth quarter 2010 over the preceding quarter.
Within the wholesale trade industry, a net weighted balance of 35% of firms is optimistic in their receipts forecast for the period of Oct – Dec 2010 compared with Jul – Sep 2010.
These include dealers of cosmetics & toiletries, electronic components, computers & accessories and motor vehicles. In line with the expected increase in earnings, a net weighted balance of 16% of firms is positive about their hiring plans during the period.
In the retail trade industry, a net weighted balance of 38% of retailers foresees higher sales for fourth quarter 2010 over third quarter 2010. Correspondingly, more employees are expected to be recruited during the quarter.
Firms in the transport & storage industry foresee both their income & employment to improve for the next three months ending Dec 2010.
A net weighted balance of 29% of hoteliers predicts higher business receipts for the three-month period ending Dec 2010. At the same time, manpower demand is expected to rise for fourth quarter 2010.
In the catering trade industry, a net weighted balance of 59% of firms projects higher revenue for fourth quarter 2010 over third quarter 2010. The industry is also favorable in their hiring expectations.
Within the information & communications industry, a net weighted balance of 14% of firms foresees turnover to improve for the period of Oct – Dec 2010.
As for employment, the industry expects higher manpower demand during the quarter.
In the financial services industry, a net weighted balance of 28% of firms forecasts higher earnings for the next three months ending Dec 2010.
In particular, banks & finance companies, fund managers and insurance companies are among those that are optimistic in their operating receipts forecast. Correspondingly, the industry expects to hire more workers in the coming months.
Both the income and employment levels for the real estate industry are expected to remain stable for the period of Oct – Dec 2010 compared with Jul – Sep 2010.
A net weighted balance of 11% and 14% of firms in the business services industry foresees operating receipts and employment to grow for the three-month period ending Dec 2010 respectively.
Within the amusement & recreation industry, a net weighted balance of 64% of firms expects to generate higher business receipts in fourth quarter over third quarter 2010. More hiring is expected as the business situation of the industry remains promising in the coming months.
Topics: 2010, 4Q, amusement, Asia, business, business reciepts index, cars, chemical products, chemicals, computers, cosmetics, economic development, economic growth, economic recovery, Economy, electronic components, employment, employment agencies, engineering, equipment, footwear, fourth quarter, Governance, government, hotels, industrial machinery, investment, jewelery, jobs, moniter, monitor, motor vehicles, news, Pacific, recreation, restaurants, retail trade, retailers, Service Sector Reciepts, services sector, Services Sector Business Expectations Survey, Singapore, toiletries, trucks, watches, wholesale
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