S'pore economy seen expanding: Amex

[SINGAPORE] Senior financial executives here believe that the local economy will continue to expand, and benefit their firms, even as challenges abound, according to the American Express Business Momentum Survey 2013.

While the impact of rising labour and property costs on businesses have been making headlines, it seems that more firms are wringing their hands over industry competition, currency volatility and the interest rate environment.

The American Express study was done with 101 senior financial executives from firms with annual sales turnover of US$20-151 million. They were interviewed over the phone in August this year.