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CSV Singapore Department of Statistics

Business Expectations Of The Services Sector - General Business Outlook For The Next 6 Months, Net Weighted Balance, Quarterly

Description

This Singapore Department of Statistics series reports the Business Expectations Survey result for the services sector, specifically firms' general business outlook for the next six months, expressed as a net weighted balance. The net weighted balance is the difference between the weighted percentages of respondents expecting an improvement and those expecting a decline, so a positive reading signals net optimism and a negative reading net pessimism. Data are quarterly and run from 1995 to the first quarter of 2026, with separate rows for the total services sector and component industries such as wholesale and retail trade. Economists and business analysts treat it as a leading sentiment indicator for Singapore's services economy.

Official description

Source: SINGAPORE DEPARTMENT OF STATISTICS Data Last Updated: 31/07/2026 Update Frequency: Quarterly Footnotes: Net weighted balance' is the difference between the weighted percentages of 'ups' and 'downs'. A positive value indicates a net upward trend and a negative value denotes a net downward trend. Link to latest BES release is available via www.singstat.gov.sg/find-data/search-by-theme/industry/business-expectations/latest-data. Adapted from: https://tablebuilder.singstat.gov.sg/table/TS/M250431

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Last updated
Coverage
1995-01-01 – 2026-06-30
Rows
20
Columns
127

Chart

Values are summed where multiple rows share the same category.

Data

Data Series 2026 2Q 2026 1Q 2025 4Q 2025 3Q 2025 2Q 2025 1Q 2024 4Q 2024 3Q 2024 2Q 2024 1Q 2023 4Q 2023 3Q 2023 2Q 2023 1Q 2022 4Q 2022 3Q 2022 2Q 2022 1Q 2021 4Q 2021 3Q 2021 2Q 2021 1Q 2020 4Q 2020 3Q 2020 2Q 2020 1Q 2019 4Q 2019 3Q 2019 2Q 2019 1Q 2018 4Q 2018 3Q 2018 2Q 2018 1Q 2017 4Q 2017 3Q 2017 2Q 2017 1Q 2016 4Q 2016 3Q 2016 2Q 2016 1Q 2015 4Q 2015 3Q 2015 2Q 2015 1Q 2014 4Q 2014 3Q 2014 2Q 2014 1Q 2013 4Q 2013 3Q 2013 2Q 2013 1Q 2012 4Q 2012 3Q 2012 2Q 2012 1Q 2011 4Q 2011 3Q 2011 2Q 2011 1Q 2010 4Q 2010 3Q 2010 2Q 2010 1Q 2009 4Q 2009 3Q 2009 2Q 2009 1Q 2008 4Q 2008 3Q 2008 2Q 2008 1Q 2007 4Q 2007 3Q 2007 2Q 2007 1Q 2006 4Q 2006 3Q 2006 2Q 2006 1Q 2005 4Q 2005 3Q 2005 2Q 2005 1Q 2004 4Q 2004 3Q 2004 2Q 2004 1Q 2003 4Q 2003 3Q 2003 2Q 2003 1Q 2002 4Q 2002 3Q 2002 2Q 2002 1Q 2001 4Q 2001 3Q 2001 2Q 2001 1Q 2000 4Q 2000 3Q 2000 2Q 2000 1Q 1999 4Q 1999 3Q 1999 2Q 1999 1Q 1998 4Q 1998 3Q 1998 2Q 1998 1Q 1997 4Q 1997 3Q 1997 2Q 1997 1Q 1996 4Q 1996 3Q 1996 2Q 1996 1Q 1995 4Q 1995 3Q 1995 2Q 1995 1Q
Total Services Sector -4.000000 4.000000 10.000000 2.000000 -17.000000 7.000000 13.000000 13.000000 7.000000 5.000000 9.000000 8.000000 4.000000 3.000000 9.000000 15.000000 15.000000 14.000000 19.000000 11.000000 11.000000 7.000000 -5 -31 -58 -2 1 2 4 -4 3 9 8 3 9 5 -1 -14 -8 -6 -13 -18 -6 2 3 -4 7 13 5 1 8 9 6 -5 1 2 6 -25 -9 19 17 19 27 33 36 24 17 -3 -48 -53 -15 2 3 8 23 28 22 18 24 23 25 18 22 26 19 12 30 31 31 18 28 19 -27 -6 10 18 -3 -23 -41 -19 5 3 26 26 24 24 24 11 -17 -29 -33 -22 -33 -22 16 22 2 7 18 18 1 8 29 17 12
Wholesale & Retail Trade 8.000000 15.000000 25.000000 17.000000 -12.000000 9.000000 16.000000 11.000000 13.000000 3.000000 6.000000 -10.000000 -8.000000 -5.000000 -7.000000 6.000000 17.000000 19.000000 20.000000 24.000000 11.000000 11.000000 -1 -27 -56 -16 -4 -4 7 -8 5 4 7 5 7 -3 2 -4 -12 -17 -13 -24 -11 -3 -4 -6 15 15 3 -1 11 9 3 1 8 5 13 -20 3 25 15 18 37 36 37 28 24 -4 -43 -47 -11 -4 5 2 25 25 12 -8 16 18 10 4 13 23 7 -9 20 32 20 1 19 11 -39 -16 1 -1 -9 -32 -29 -20 -13 -3 23 19 12 17 23 16 -16 -30 -38 -40 -37 -22 10 20 0 -5 7 14 -2 6 30 23 9
Wholesale Trade 11.000000 15.000000 25.000000 17.000000 -10.000000 9.000000 15.000000 11.000000 15.000000 1.000000 3.000000 -11.000000 -7.000000 -6.000000 -10.000000 4.000000 19.000000 20.000000 20.000000 26.000000 13.000000 11.000000 -2 -27 -53 -15 -5 -4 9 -9 2 4 10 6 6 -2 6 -2 -15 -19 -12 -27 -16 -5 -4 -7 13 15 5 0 9 9 8 3 4 4 17 -19 0 25 20 22 38 37 44 33 23 -3 -40 -45 -10 -1 9 4 24 28 17 -11 13 17 14 5 8 22 10 -9 17 34 25 9 16 2 -30 -17 4 8 -7 -25 -44 -19 -6 -1 23 24 18 19 23 15 -15 -30 -39 -38 -36 -19 7 21 7 -3 5 14 6 9 31 27 17
Retail Trade -31.000000 16.000000 33.000000 19.000000 -34.000000 8.000000 34.000000 4.000000 -24.000000 20.000000 33.000000 8.000000 -19.000000 8.000000 31.000000 27.000000 -5.000000 11.000000 23.000000 8.000000 -18.000000 17.000000 5 -24 -84 -22 7 -7 -14 2 29 7 -19 -5 19 -5 -29 -22 23 2 -16 -2 34 8 -9 2 38 21 -13 -4 30 9 -45 -15 41 15 -14 -29 23 26 -24 -7 29 29 -18 -8 27 -11 -62 -60 -12 -20 -29 -12 31 2 -21 8 34 22 -13 -2 38 28 -19 -9 39 24 -3 -21 26 35 -62 -12 -7 -24 -14 -50 -47 -29 -46 -12 22 -9 -16 11 27 17 -21 -30 -34 -49 -44 -38 26 15 -29 -15 18 15 -36 -5 23 7 -18
Accommodation & Food Services -25.000000 -8.000000 13.000000 18.000000 -23.000000 -6.000000 17.000000 18.000000 2.000000 9.000000 37.000000 38.000000 18.000000 3.000000 55.000000 58.000000 9.000000 7.000000 18.000000 -4.000000 -6.000000 -16.000000 -22 -55 -96 -26 25 22 -5 -12 26 37 -7 -15 22 33 -21 -37 9 21 -23 -39 38 17 -2 -20 22 19 3 -18 33 36 -2 -24 34 37 9 -28 34 45 31 25 40 45 35 35 42 18 -55 -65 17 3 26 30 76 65 21 29 55 48 18 23 56 47 41 32 68 58 26 50 49 34 -51 6 71 22 21 -8 5 25 1 27 68 44 -2 19 60 26 15 7 -4 -13 -18 23 65 45 -24 0 30 8 -19 25 72 15 3
Accommodation -11.000000 4.000000 23.000000 27.000000 -14.000000 4.000000 13.000000 33.000000 24.000000 29.000000 44.000000 44.000000 21.000000 16.000000 48.000000 62.000000 15.000000 5.000000 23.000000 2.000000 -20.000000 -42.000000 -51 -76 -97 -32 22 25 -2 -26 17 38 -7 -23 11 27 -15 -44 1 21 -25 -48 40 14 4 -25 21 37 3 -10 31 43 10 -27 30 44 18 -29 15 66 56 35 39 42 12 27 44 31 -74 -100 4 37 69 35 79 62 63 27 48 68 60 40 64 57 63 14 74 43 12 32 96 56 -82 -26 72 58 41 -10 1 43 15 14 78 36 -19 0 54 50 42 -39 -37 -41 -52 2 62 52 -47 -11 60 39 -5 17 71 61 16
Food & Beverage Services -40.000000 -15.000000 3.000000 8.000000 -31.000000 -16.000000 21.000000 5.000000 -19.000000 -13.000000 29.000000 31.000000 15.000000 -10.000000 63.000000 55.000000 3.000000 8.000000 13.000000 -9.000000 10.000000 14.000000 10 -32 -96 -20 28 19 -9 4 36 37 -6 -6 34 41 -28 -30 19 20 -21 -27 36 21 -8 -14 23 -5 3 -29 36 26 -17 -21 39 30 0 -27 51 27 10 20 41 47 45 40 41 12 -45 -45 24 -15 3 27 74 66 0 31 58 37 -5 14 52 41 30 42 66 66 34 58 25 23 -36 23 71 4 11 -8 7 14 -8 36 62 50 10 31 63 10 -2 37 17 6 5 37 67 40 -12 7 14 -9 -27 29 73 -11 -19
Transportation & Storage -36.000000 -35.000000 -25.000000 -22.000000 -30.000000 -8.000000 0.000000 30.000000 -4.000000 -17.000000 1.000000 22.000000 -5.000000 12.000000 15.000000 32.000000 23.000000 17.000000 35.000000 10.000000 5.000000 8.000000 -10 -35 -52 -4 11 11 -14 -19 3 6 6 -11 0 -17 -18 -43 -19 -11 -34 -33 -13 4 5 -14 0 22 17 -10 5 29 -3 -11 -14 4 -6 -14 -14 15 5 -3 22 24 24 3 -2 -19 -52 -66 -25 8 -9 -5 18 17 18 -4 8 18 14 -7 14 25 18 -1 16 -15 9 12 54 7 -11 -4 4 50 -38 -24 -57 -58 33 -7 15 17 13 2 7 18 -11 -17 -5 29 -55 -36 61 65 -32 28 48 55 -18 16 22 29 16
Information & Communications 0.000000 11.000000 21.000000 12.000000 -19.000000 16.000000 21.000000 15.000000 10.000000 5.000000 10.000000 7.000000 0.000000 -4.000000 10.000000 8.000000 7.000000 20.000000 9.000000 10.000000 23.000000 12.000000 5 -17 -21 8 9 12 18 13 13 9 2 -2 9 11 8 -1 9 2 5 -16 8 16 8 2 9 13 10 16 17 15 7 -1 7 10 16 -16 4 23 12 -2 21 38 5 -1 0 4 -26 -30 9 12 23 9 5 23 12 -5 2 1 -2 2 13 9 -1 6 18 29 13 na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na
Finance & Insurance -13.000000 8.000000 9.000000 -14.000000 -36.000000 14.000000 14.000000 15.000000 8.000000 19.000000 6.000000 14.000000 15.000000 2.000000 4.000000 14.000000 18.000000 19.000000 27.000000 13.000000 15.000000 18.000000 4 -20 -72 12 -8 -3 9 -2 1 14 16 18 20 14 5 -5 -2 1 -10 -1 -5 4 21 15 7 25 16 13 6 -1 21 4 -3 -16 6 -52 -36 20 38 47 34 37 70 53 32 16 -52 -61 -34 -3 -4 19 17 30 29 46 30 27 51 44 26 26 40 40 45 54 61 51 24 26 -13 12 21 21 22 -6 -56 -9 8 15 43 40 49 53 31 25 -24 -43 -47 -38 -27 -26 4 10 26 17 16 21 28 18 28 23 22
Banks & Finance Companies -29.000000 1.000000 -7.000000 -42.000000 -44.000000 26.000000 10.000000 22.000000 -4.000000 2.000000 -15.000000 0.000000 6.000000 1.000000 -8.000000 22.000000 19.000000 19.000000 27.000000 7.000000 23.000000 25.000000 -16 -22 -78 17 -24 -14 -3 -16 -5 17 25 22 4 6 11 -5 -12 1 -23 -1 -13 3 8 8 3 34 16 27 11 4 25 8 -6 -23 3 -68 -54 12 43 41 29 34 78 64 32 12 -64 -70 -33 7 7 21 19 34 28 49 19 26 54 55 16 18 46 53 52 63 70 58 21 20 -22 15 25 30 29 -12 -67 -17 -12 27 63 60 64 66 44 23 -24 -41 -46 -35 -30 -21 14 12 24 24 16 25 23 12 21 20 22
Security Dealing Activities 27.000000 0.000000 8.000000 -34.000000 0.000000 13.000000 0.000000 15.000000 0.000000 0.000000 -6.000000 15.000000 -6.000000 14.000000 -13.000000 -1.000000 40.000000 6.000000 0.000000 11.000000 -5.000000 0.000000 -12 -22 -34 0 -22 -23 11 -8 11 10 13 13 -7 15 13 -6 -13 0 -21 -24 0 -23 34 19 17 8 35 40 -13 -4 18 8 -25 1 47 -28 -48 1 -25 67 14 -19 37 27 18 32 -50 -43 -68 -13 -44 -11 -30 -28 -16 35 -4 -40 49 47 10 37 40 67 7 24 26 22 36 47 18 -10 2 -3 -13 -15 -56 -50 -71 -46 -32 -36 -18 1 -16 41 -21 -31 -66 -83 -38 -54 -32 -12 29 14 8 4 44 52 39 20 17
Fund Management 3.000000 -11.000000 -10.000000 -9.000000 -24.000000 10.000000 8.000000 7.000000 7.000000 0.000000 0.000000 7.000000 7.000000 -19.000000 -34.000000 -37.000000 0.000000 14.000000 0.000000 0.000000 0.000000 0.000000 0 -20 -22 0 -21 -17 4 -17 0 1 4 7 22 0 -5 -4 4 -36 -6 -32 -47 21 20 16 18 14 0 0 0 -23 10 -6 -19 -25 -14 -52 -72 13 5 54 39 43 46 58 43 48 -45 -80 -45 -49 -47 9 -8 40 36 46 62 32 86 55 48 40 58 19 46 43 80 na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na
Insurance Companies 3.000000 -18.000000 0.000000 8.000000 -9.000000 9.000000 3.000000 4.000000 24.000000 18.000000 16.000000 20.000000 17.000000 23.000000 31.000000 21.000000 16.000000 18.000000 38.000000 18.000000 18.000000 16.000000 18 -24 -81 2 24 11 5 12 20 23 20 29 37 20 2 -5 14 2 -1 13 22 6 4 24 23 12 25 -6 1 5 6 -8 13 -7 0 -16 25 49 49 49 50 59 67 33 32 9 -32 -38 -32 -22 -19 24 37 43 45 52 81 75 71 22 81 69 58 8 78 72 43 89 44 32 -28 48 42 26 33 26 -33 32 71 54 89 75 69 52 76 27 -34 -65 -43 -15 -16 -28 -1 16 30 -2 39 37 27 3 49 48 28
Other Financial Services -4.000000 48.000000 56.000000 21.000000 -47.000000 1.000000 31.000000 18.000000 34.000000 60.000000 42.000000 39.000000 34.000000 -1.000000 26.000000 18.000000 25.000000 23.000000 31.000000 26.000000 4.000000 16.000000 36 -14 -87 16 11 17 34 21 0 12 5 10 40 33 -2 -4 5 19 13 6 11 2 52 23 -1 23 15 -7 2 -5 26 11 15 -1 20 -9 33 40 42 57 43 44 61 24 31 5 -28 -44 -17 23 12 20 10 13 27 27 -5 -13 -6 27 -22 -24 -25 26 -30 3 71 13 1 24 3 -15 4 6 26 -3 -31 1 68 -36 -33 -20 18 52 -41 6 0 -21 -27 -37 -14 -17 -1 15 22 6 -19 1 25 14 16 -7 26
Real Estate -7.000000 -11.000000 -14.000000 0.000000 -11.000000 2.000000 2.000000 1.000000 -2.000000 4.000000 8.000000 2.000000 -11.000000 2.000000 -5.000000 5.000000 1.000000 -12.000000 5.000000 -8.000000 10.000000 -16.000000 -45 -59 -63 0 -3 4 -1 -5 -18 -13 9 1 -5 -6 -16 -39 -35 -20 -36 -29 -22 -19 -17 -30 -18 -23 -25 -23 -16 -41 -32 -41 -18 -8 -23 -60 -35 0 2 7 -6 27 39 19 2 -18 -58 -52 -41 -17 9 17 30 65 61 73 69 66 63 71 67 72 52 43 58 53 77 0 26 40 -26 -17 1 32 -1 -33 -53 -14 20 4 16 26 27 20 19 -13 -22 -36 -37 -9 -15 -30 -18 -1 12 -7 3 -14 -10 -27 28 -15 -19
Professional And Administrative & Support Services 5.000000 4.000000 8.000000 -6.000000 -5.000000 -1.000000 10.000000 7.000000 -1.000000 2.000000 18.000000 15.000000 13.000000 12.000000 20.000000 12.000000 11.000000 7.000000 6.000000 -1.000000 8.000000 -9.000000 -17 -42 -55 1 1 0 5 -1 2 17 6 -1 9 17 3 -11 -3 5 -6 -15 -3 8 4 -1 3 10 2 3 19 21 18 -2 2 4 2 -15 -5 10 14 18 12 25 20 21 15 -8 -55 -49 6 17 7 19 33 25 24 36 34 16 22 6 16 10 -6 -4 10 9 3 23 22 -1 -27 4 15 -3 0 -17 -31 -18 -13 -4 6 14 23 22 20 -6 -25 -29 -43 -47 -35 -3 20 7 5 7 25 16 10 26 24 13 5
Professional Services 6.000000 4.000000 10.000000 -11.000000 -6.000000 -7.000000 8.000000 5.000000 -3.000000 -2.000000 26.000000 22.000000 15.000000 15.000000 30.000000 18.000000 10.000000 10.000000 7.000000 3.000000 9.000000 -9.000000 na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na
Administrative & Support Services 1.000000 4.000000 3.000000 6.000000 -4.000000 10.000000 12.000000 10.000000 2.000000 8.000000 0.000000 0.000000 8.000000 4.000000 1.000000 2.000000 12.000000 2.000000 4.000000 -7.000000 7.000000 -8.000000 na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na
Recreation, Community & Personal Services 11.000000 12.000000 13.000000 19.000000 5.000000 9.000000 15.000000 11.000000 12.000000 8.000000 11.000000 18.000000 20.000000 12.000000 34.000000 30.000000 16.000000 11.000000 13.000000 1.000000 10.000000 12.000000 11 -36 -58 6 7 9 5 2 5 12 8 4 11 9 4 -8 5 1 5 1 7 10 2 3 8 12 5 16 -2 14 14 -3 10 12 26 9 7 24 22 na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na na

Columns

Column Type Categorical
Data Series Text No
2026 2Q Numeric No
2026 1Q Numeric No
2025 4Q Numeric No
2025 3Q Numeric No
2025 2Q Numeric No
2025 1Q Numeric No
2024 4Q Numeric No
2024 3Q Numeric No
2024 2Q Numeric No
2024 1Q Numeric No
2023 4Q Numeric No
2023 3Q Numeric No
2023 2Q Numeric No
2023 1Q Numeric No
2022 4Q Numeric No
2022 3Q Numeric No
2022 2Q Numeric No
2022 1Q Numeric No
2021 4Q Numeric No
2021 3Q Numeric No
2021 2Q Numeric No
2021 1Q Numeric No
2020 4Q Numeric No
2020 3Q Text No
2020 2Q Text No
2020 1Q Text No
2019 4Q Text No
2019 3Q Text No
2019 2Q Text No
2019 1Q Text No
2018 4Q Text No
2018 3Q Text No
2018 2Q Text No
2018 1Q Text No
2017 4Q Text No
2017 3Q Text No
2017 2Q Text No
2017 1Q Text No
2016 4Q Text No
2016 3Q Text No
2016 2Q Text No
2016 1Q Text No
2015 4Q Text No
2015 3Q Text No
2015 2Q Text No
2015 1Q Text No
2014 4Q Text No
2014 3Q Text No
2014 2Q Text No
2014 1Q Text No
2013 4Q Text No
2013 3Q Text No
2013 2Q Text No
2013 1Q Text No
2012 4Q Text No
2012 3Q Text No
2012 2Q Text No
2012 1Q Text No
2011 4Q Text No
2011 3Q Text No
2011 2Q Text No
2011 1Q Text No
2010 4Q Text No
2010 3Q Text No
2010 2Q Text No
2010 1Q Text No
2009 4Q Text No
2009 3Q Text No
2009 2Q Text No
2009 1Q Text No
2008 4Q Text No
2008 3Q Text No
2008 2Q Text No
2008 1Q Text No
2007 4Q Text No
2007 3Q Text No
2007 2Q Text No
2007 1Q Text No
2006 4Q Text No
2006 3Q Text No
2006 2Q Text No
2006 1Q Text No
2005 4Q Text No
2005 3Q Text No
2005 2Q Text No
2005 1Q Text No
2004 4Q Text No
2004 3Q Text No
2004 2Q Text No
2004 1Q Text No
2003 4Q Text No
2003 3Q Text No
2003 2Q Text No
2003 1Q Text No
2002 4Q Text No
2002 3Q Text No
2002 2Q Text No
2002 1Q Text No
2001 4Q Text No
2001 3Q Text No
2001 2Q Text No
2001 1Q Text No
2000 4Q Text No
2000 3Q Text No
2000 2Q Text No
2000 1Q Text No
1999 4Q Text No
1999 3Q Text No
1999 2Q Text No
1999 1Q Text No
1998 4Q Text No
1998 3Q Text No
1998 2Q Text No
1998 1Q Text No
1997 4Q Text No
1997 3Q Text No
1997 2Q Text No
1997 1Q Text No
1996 4Q Text No
1996 3Q Text No
1996 2Q Text No
1996 1Q Text No
1995 4Q Text No
1995 3Q Text No
1995 2Q Text No
1995 1Q Text No