In 3Q2024, the OCBC SME Index registered a reading of 50.8, marking an improvement from the previous reading of 50.2. This comes alongside a 0.4% y-o-y increase in collections and 0.3% y-o-y increase in payments.
The OCBC small and medium enterprise (SME) Index has extended its gains for the second quarter in a row, a report by OCBC released on Oct 15 states.
The OCBC SME Index uses SME transactional data of over 100,000 OCBC SME customers in Singapore with annual sales turnover of up to $30 million. The index is centred on a score of 50, which indicates zero changes in the inputs from a year ago.
