Chart of the Day: Only 14% of services sector firms are optimistic

The majority of firms foresee the business climate to remain unchanged.

The Singapore Department of Statistics reported:

An overall net weighted balance of 5% of firms in the services sector expects less favourable business prospects for the period of Jan - Jun 2013 compared with Jul - Dec 2012.

The majority of firms (a weighted 67%) foresee the business climate to remain unchanged for the first half of 2013. A weighted 14% of firms is optimistic about business prospects, while a weighted 19% of firms projects slower business.

In comparison, the previous survey recorded a positive net weighted balance of 1% for Oct 2012 - Mar 2013. Compared to the same period last year, the negative net weighted balance of 5% was smaller than the negative net weighted balance of 25% recorded for Jan - Jun 2012.

Business conditions in the wholesale trade industry are expected to remain stable for the period of Jan - Jun 2013, with different firms in the industry expressing mixed sentiments.

Firms with positive sentiments are mainly engaged in the wholesale of food & beverages and chemicals & chemical products. On the other hand, wholesalers of household electrical appliances are less optimistic.