Businesses dont expect growth in the next six months. The overall index score fell 1.1 points to 50.0, marking the first time that overall sentiment turned neutral after six straight years of consistent optimism. The score of 50.0 is the lowest score since the Index was first published in the first quarter of 2010.
“The convergence of domestic factors such as low economic growth and rising business costs, as well as global headwinds such as heightened volatility in the financial markets and a slowdown in the Chinese markets have impacted SMEs in Singapore,” said Ho Meng Kit, CEO of the Singapore Business Federation.
“Signs of strain have been surfacing – the latest of which being the consecutive yearlong fall in manufacturing output.