pstrongOverall, SMEs' performance and health remained in a state of contraction with a 49.7 reading./strong/p pThe performance and health of small and medium enterprises (SMEs) in Singapore slightly improved in 1Q24, according to the latest OCBC SME Index./p pDespite a 0.
The performance and health of small and medium enterprises in Singapore slightly improved in 1Q24, according to the latest OCBC SME Index.“SME collections and payments grew by 1.4% YoY and 1.9% YoY against the backdrop of bumpy disinflation trends and elevated cost pressures,” OCBC reported.
On the other hand, Building & Construction and Healthcare turned contractionary after seeing expansion in 4Q23. “The OCBC SME Index is likely to remain flat in the near term before a gradual upturn towards the second half of this year. The turnaround in global electronics and a positive outlook for the ASEAN economies are expected to have a positive impact on the outward-oriented sectors in Singapore,” OCBC said.
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