Small and medium-sized enterprises (SMEs) in Singapore are generally positive about their business outlook in the near term, according to an index compiled by OCBC Bank that was launched on Thursday.
The index gave the business outlook for SMEs in the fourth quarter of 2022 an overall reading of 50.2 points, remaining slightly expansionary for the eighth consecutive quarter. This was a slight dip from 51.9 registered in the third quarter.
A reading above 50 indicates improved business health, while one below 50 suggests a deterioration relative to the same period a year earlier.
OCBC first released the index in 2021 and publishes the data after every quarter.
The bank, which serves around half the SMEs here, compiles the index from data supplied by over 100,000 companies each with up to $30 million in annual turnover.
This story is from the January 21, 2023 edition of The Straits Times.
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This story is from the January 21, 2023 edition of The Straits Times.
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