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Singapore's services companies more upbeat, manufacturers less so

Publication Date : 31-07-2014

 

Companies in Singapore's services industries are generally more optimistic about their business prospects over the next six months, but manufacturing firms have become less cheery.

Over one in five services companies believes the business climate will improve in the July to December period compared with the previous six months, and only 8 per cent are projecting a deterioration in business.

In contrast, just 9 per cent of manufacturing firms are tipping better conditions in the July to December period over the April to June period, and 3 per cent are expecting gloomier times.

Among services firms, the most upbeat are those in the accommodation and financial services industries, according to data released by the Singapore Department of Statistics on Thursday.

In contrast, companies dealing in real estate or food and beverages are the least optimistic.

For manufacturing firms, companies in precision engineering, transport engineering and general manufacturing - such as food manufacturing or printing - have the rosiest view of the second half of this year, said the Economic Development Board in a separate release.

Chemicals firms are the most pessimistic, followed by electronics companies and biomedical firms.


 

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