The services sector is slightly gloomier about prospects for the next six months than it was three months ago.
Just 18 per cent of firms see a better business outlook, and 11 per cent are downbeat, according to Singapore Department of Statistics (Singstat) data. The rest expect things to stay the same.
Three months ago, 21 per cent of services firms were upbeat and just 8 per cent pessimistic.
Factory bosses tell roughly the same story, according to the Economic Development Board's latest survey of manufacturing sector expectations.
Just 8 per cent of manufacturers expect business conditions to improve in the next six months, while 7 per cent were downbeat.
Three months ago, only 3 per cent were pessimistic and 9 per cent saw brighter prospects.
Manufacturers in the transport engineering cluster were the most optimistic, led by marine and offshore engineering firms, which expect to fill their order books with higher demand for oil and gas-field equipment, as well as replacement demand for oil rigs.
The electronics and precision engineering clusters were the most pessimistic.
In precision engineering, the machinery and systems segment expects a seasonal softness in orders, particularly in semiconductor-related equipment, said the EDB.
All service industries, except those in real estate, transport and storage, project brisker business in the next six months.
Retailers and food and beverage services were the most optimistic of prospects, thanks to the upcoming festive season and school holidays.
Hoteliers also expect higher tourist arrivals during the year-end holiday period.
Wholesalers of computer hardware and equipment are confident that new product launches will drive sales, said Singstat.
Meanwhile, real estate developers are bracing themselves for a fall in demand due to government cooling measures, such as the additional buyer's stamp duty and total debt servicing ratio.
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