Most Industries In Services Sector Optimistic About Business Prospects

Most Industries In The Services Sector Are Optimistic About The Business Prospects For The Six Months Ending March 2014, According To A Survey By The Department Of Statistics Singapore.

SINGAPORE: Most industries in the services sector are optimistic about the business prospects for the six months ending March 2014, according to a survey by the Department of Statistics Singapore (DOS).

DOS said that overall, a net weighted balance of 8 per cent of firms in the services sector expect better business prospects for the period of October 2013 to March 2014.

It added that majority of the firms expect the business situation to remain unchanged in the six months ahead.

All industries within the services sector are upbeat about business prospects, with the exception of real estate and community & personal services industries.

The poll found that a net weighted balance of 16 per cent of firms in the real estate industry expect less favourable business conditions.

DOS said real estate developers continue to cite the series of government measures, including the Total Debt Servicing Ratio framework and uncertain economic conditions, as the reasons for their negative outlook.

Meanwhile, with the upcoming year-end holiday and festive seasons, several industries are projecting improvement in business in the months ahead.

They include the food and beverage services industry and retail trade industry.

In addition, hoteliers are expecting higher occupancy during the Singapore Airshow next February.

DOS said that within the services sector, all industries except the real estate industry expect an increase in revenue for the fourth quarter of 2013.

In terms of employment forecast, a net weighted balance of 12 per cent of firms in the services sector expect to increase hiring between October 2013 and December 2013.

DOS said firms in the retail trade industry are most optimistic about hiring, recording a net weighted balance of 45 per cent.

The optimism is due to the increased manpower requirement for the year-end holidays and festivities by retailers of jewellery & watches, clothing & footwear and supermarket & department stores.

Source: 31th October 2013 Channel News Asia

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Most Industries In Services Sector Optimistic About Business Prospects

Most Industries In The Services Sector Are Optimistic About The Business Prospects For The Six Months Ending March 2014, According To A Survey By The Department Of Statistics Singapore.

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