Service, wholesale trade sectors most optimistic as business outlook turns positive

SINGAPORE (March 1): Business outlook for 2Q17 has rebounded into positive territory following a negative outlook the preceding quarter, according to the Singapore Commercial Credit Bureau (SCCB)’s latest Business Optimism Index (BOI) survey.

The index rose from -1.22 percentage points in 1Q17 to 2.66 percentage points the coming quarter. On a year-on-year basis, sentiments improved marginally by 1.77%.

The sanguine outlook is coming on the back of more positive indicators for the second quarter of this year. Out of six indicators used in the BOI, 4 were expansionary and 2 were contractionary. This is in contrast to 1Q17 indicators with 3 contractionary, 2 expansionary and 1 unchanged.

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