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Singapore IT industry outlook cooling

Ross O. Storey | April 29, 2011
The Latest government Business Expectations survey shows a slight slip in enterprise optimism.

The general business outlook for Singapore's information and communications services industry remains cautiously upbeat, with just 12 per cent of firms expecting better results in April - September 2011.

Lion city ICT firms do, however, project an increase in earnings for second quarter 2011 compared with the previous quarter. The industry also expects to employ more workers in the coming months.

Banks, finance and insurance companies are more optimistic, with 38 per cent viewing this year's next six months more positively.

The latest General Business Outlook for April - September 2011 comes from the Singapore Department of Statistics.

 1,500 firms surveyed

The Department's figures come from the Business Expectations Survey which covers some 1,500 enterprises in wholesale trade, retail trade, transport and storage services, accommodation, food and beverage services, information and communications services, financial and insurance services, real estate, business services (excluding real estate) and recreation, community and personal services.

The Business Expectations Survey for the services sector for second quarter

2011 was conducted from March 2011 to mid-April 2011.

The report states that, however "overall business confidence for the two half yearly periods has slipped slightly with 17 per cent of firms in Singapore's services sector anticipating better business prospects.

The Department said: "This is slightly smaller than the 19 per cent recorded for Jan - Jun 2011 in the previous quarter's survey. It is also smaller than the 36 per cent registered in the same period of the previous year (i.e.Apr - Sep 2010)".




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