In brief
Singapore's services sector firms are optimistic about the near‑future business climate, with 15% forecasting a positive outlook and 21% expressing optimism overall. All industry subsectors anticipate improvement, and 16% expect operating revenue to rise in late 2026. The figures come from a survey conducted by the Singapore Department of Statistics.
On Monday 3 November 2026, Xinhua reported that Singapore’s services sector expects business conditions to improve over the six‑month period from October 2026 to March 2027, according to a business expectations survey.
Singapore Department of Statistics said the survey revealed a net weighted balance of 15 percent of firms anticipating a more favorable business outlook. Twenty‑one percent of firms expressed optimism, while only six percent expected business conditions to weaken.
All services industries—ranging from information technology to hospitality—anticipated improvement in the same time frame, the Department of Statistics added.
The survey also highlighted outlook for operating revenue. A net weighted balance of 16 percent of firms expect their operating revenue to increase in the last quarter of 2026. The report said the positive revenue expectation reflects confidence amid a gradual recovery in global demand.
The business expectations survey was one of several metrics used by the Department of Statistics to gauge economic sentiment across different sectors. While the services sector showed the highest level of optimism, the survey also identified concerns about the pace of market recovery and the impact of fluctuating foreign exchange rates on service exports.
Policymakers noted that the improving sectoral outlook aligns with broader economic trends, including the easing of trade restrictions and the gradual reopening of international travel. The Singapore government has indicated that it will continue to support service firms with incentives to boost productivity and adopt digital technologies.
Industry analysts said the positive outlook could translate into increased investment in technology and workforce development. “With firms already planning to raise revenue, it signals a confidence that could drive hiring and expansion,” one analyst observed.
The survey results are expected to inform future economic policy decisions and help businesses to plan for growth in a period of evolving global economic conditions.