Slow payments worsen for manufacturing sector in Q2

Singapore

THE manufacturing sector had the worst slow payments deterioration in the second quarter, suggesting that the manufacturing recession is starting to hurt local firms' cash flow and profitability, economists said.

The new findings come from a Singapore Commercial Credit Bureau (SCCB) report released on Tuesday. Among the five sectors, the manufacturing sector saw the largest increase in slow payments quarter-on-quarter (q-o-q), inching up 1.43 percentage points to 38.08 per cent, from 36.65 per cent in Q1. Year-on-year (y-o-y), slow payments dipped by 0.92 percentage point to 38.08 per cent from 39 per cent.