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Singapore SMEs cite lower growth momentum for H1 2015
SMALL-MEDIUM enterprises (SMEs) in Singapore are citing a lower growth momentum and a more conservative outlook for the first-half of 2015.
According to the latest SBF-DP SME Index - a six-month forward-looking index which measures SMEs' sentiments - SMEs are tempering their outlook amid weaker market sentiment, an uneven global economy and domestic pressures.
The overall index for Q1 2015 - Q2 2015 pulled back by 2.0 per cent to 54.4. A score of above 50 indicates that SMEs have a positive outlook for their business prospects for the next six months.
The index, a joint initiative of the Singapore Business Federation (SBF) and DP Information Group (DP Info), is based on some 3,600 interviews with SME owners and managers and the financial performance of SMEs. Sectors tracked include business services, commerce/trading, construction/engineering, manufacturing, transport/storage and the latest addition, retail/F&B, which contributes to about 7 per cent of Singapore's Gross Domestic Product.