Services sector less upbeat about business prospects for next 6 months

The services sector is less upbeat about business prospects for the six months to March 2009, according to a quarterly survey conducted by the Singapore Department of Statistics.

The poll, which was conducted from September to mid-October, covered some 1,400 firms.

A weighted 15 per cent of the companies expect business to improve, but 30 per cent foresee a less favourable environment.

Of those surveyed, 55 per cent think business conditions will stay the same in the next few months until March 2009.

For the fourth quarter, the services sector expects operating receipts to remain similar to the preceding three months.

An increase in employment is also expected.


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