Ho-hum months ahead for the services sector

No jumping for joy among service businesses with only a net weighted 6% looking forward to better prospects over the next 6 months.

According to the outcome of the Business Expectations Survey within the Services Sector for the Second Quarter 2012 released by the government, a net weighted 6% of service businesses expects the outlook to be better over the next 6 months till September 2012.

In the quarterly survey conducted by the Department of Statistics, those with less favourable outlook in the next 6 months are retail trade at -14% , transport and storage at -6% and real estate at -23%.

All other services were more optimistic, the highest being the recreation, community and personal services sector at +26%. Other expectant industries were accommodation at +18%, wholesale trade at +17%, information and communication at +16%, financial and insurance at 6%, business services at +2%.

Only the F&B services predicted business to remain the same.

For Q2 2012, the survey found that a net weighted 8% of services expected operating receipts to rise, while 9% expects to increasing hiring.

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