COTD: Trade, accommodation sectors most optimistic about Q4

The transportation and real estate industries show least optimism.

Singapore businesses in various industries are optimistic about their business conditions from present to March 2026, with the most positive outlook expressed by retail trade, wholesale trade, and accommodation sectors.

The transportation and storage and real estate industries are the least optimistic, the Department of Statistics Singapore found in their Business Expectations Survey for Q42025.

In the retail trade industry, 33% of companies, particularly supermarkets and retailers, expect demand to be driven by Christmas, Chinese New Year, and the year-end school holidays.

In the wholesale trade industry, 25% of firms or wholesalers of the computers, computer equipment, and software sector anticipate sales from the commercial sector as it upgrades to Windows 11 and demands for artificial intelligence (AI)-enabled systems.

Twenty-three percent in the accommodation industry account for hoteliers that expect growth from seasonal events, such as the Formula 1 Grand Prix, festive celebrations, and corporate events.

Meanwhile, 25% of the transportation and storage industry expects more challenging business conditions until March 2026, especially for water transport. Water transport firms face oversupply of vessels and weak cargo demand that lower freight rates.

The real estate sector is less upbeat, as 14% of firms expressed concern that ongoing macroeconomic uncertainties and geopolitical tensions could dampen consumer confidence.

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Department of Statistics

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