83% of services sector firms see a ho-hum 2011 ahead

The 17% who view a favorable second quarter is smaller than the net weighted balance of 36% registered in the same period of the previous year.

According to the Department of Statistics Singapore, in the wholesale trade industry, a net weighted balance of 20% of firms expects favourable business conditions for the period of Apr-Sep 2011 compared with Oct 2010 - Mar 2011.

A net weighted balance of 24% of firms in the retail trade industry is less upbeat of the business climate for the period of APr - Sep 2011 over Oct 2010 - Mar 2011.

Firms in the transport and storage industry expect the business climate for the next six months ending Sep 2011 to remain stable.

The accommodation industry remains upbeat for the next six months ending Sep 2011, mainly due to more optimistic outlook by hotels. Similarly, a net weighted balance of 10% of firms in the food & beverage services industry expects brisk business for the period of Apr - Sep 2011 compared with Oct 2010 - Mar 2011.

Within the information & communications industry, a net weighted balance of 12% of firms expects business to improve for the six-month period ending Sep 2011.

In the financial and insurance industry, a net weighted balance of 38% of firms is optimistic about the business situation for the period of Apr - Sep 2011 over Oct 2010 - Mar 2011. These include banks, finance and insurance companies.

The real estate industry expects stable business conditions for the six-month period ending Sep 2011.

A net weighted balance of 14% of firms within the business services (excluding real estate) industry expects demand for their services to increase for Apr - Sep 2011.

Firms in the recreation, community & personal services industry are optimistic in their business outlook for the next six months ending Sep 2011.