Key Highlights
General Business Outlook
The services sector in Singapore expects business conditions to be more favourable for the period of Oct 2026 - Mar 2027. 21% of firms are upbeat about business conditions while 6% foresee weaker business conditions, resulting in a net weighted balance of 15% of firms expecting a more favourable business outlook.
Operating Revenue and Employment Forecast
All services industries foresee a positive operating revenue forecast for the period of Oct – Dec 2026, with a net weighted balance of 16% of firms expecting operating revenue to improve in the next three months.
Employment outlook is expected to be positive with a net weighted balance of 11%, for the period of Oct – Dec 2026.
About the Business Expectations of the Services Sector
The Business Expectations Survey (BES) measures firms’ general business outlook for the next six months, as well as their operating revenue and employment outlook for the next three months. The findings are used by the government and the business community in policy making and business planning.
The BES for the services sector is conducted quarterly (i.e., one month before the reference quarter) by the Singapore Department of Statistics. The 4th quarter 2026 survey was conducted from Sep to Oct 2026. This survey aimed to obtain the business outlook for the immediate future of firms in the services sector.
The BES covers about 1,600 enterprises in Wholesale Trade, Retail Trade, Transportation & Storage, Accommodation, Food & Beverage Services, Information & Communications, Finance & Insurance, Real Estate, Professional Services, Administrative & Support Services and Recreation, Community & Personal Services. Firms that responded in each reference quarter accounted for about 70% of the operating revenue among all firms selected for the BES.