In brief
A survey by the Singapore Department of Statistics finds that services companies anticipate improving business conditions from October 2026 to March 2027, with 15% of firms forecasting a more favorable outlook and 21% expressing optimism. All service industries are expected to see better conditions, and 16% of firms foresee revenue growth in the last quarter of 2026. These figures mirror an uptick noted by the OCBC Daily Treasury Outlook, where 15% of firms now expect a stronger six‑month outlook compared to 13% three months earlier.
Singapore, November 3 – A new survey from the Singapore Department of Statistics shows that firms in the country’s services sector expect business conditions to improve over the six months from October 2026 to March 2027. The study, released by Xinhua, reveals a net weighted balance of 15 percent of respondents reporting a more favourable outlook.
In addition, 21 percent of the surveyed firms are optimistic about the period ahead, while 6 percent of respondents anticipate a weakening of conditions. The figures are consistent with a report on the same day that repeats the 21 percent optimism and 6 percent pessimism, affirming the survey’s results.
All sectors of Singapore’s services industry, from finance to tourism, expect better business conditions during the same time frame. Around 16 percent of firms say that operating revenue will rise in the last quarter of 2026, signalling growth expectations across the economy’s largest employer base.
These developments come in the wake of a financial outlook update by OCBC’s Daily Treasury Outlook, which noted that services firms were more upbeat, with 15 percent anticipating a stronger six‑month outlook – an increase from 13 percent three months earlier. The report also highlighted that the sector’s sentiment had improved from a negative 4 percent in earlier surveys.
The Department of Statistics emphasized that the weighted balance reflects the relative influence of each firm’s size, providing a more nuanced view of overall sentiment than simple averages. While the survey does not detail the specific industries contributing most to the positive shift, all companies surveyed reported an expectation of improved conditions.
In its official statement, the Department of Statistics highlighted that the survey covers hundreds of firms across the country’s service economy, capturing perceptions that will shape business strategies for the coming year.
Business leaders in Singapore are thus setting their sights on the latter part of 2026, anticipating not only clearer market conditions but also revenue growth that could drive employment and investment within the sector. The data suggest that the services market is moving toward a period of expansion, aligning with broader economic plans to deepen Singapore’s position as a regional service hub.