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Singapore business optimism hits yearly high in Q2 2024

Singapore’s Business Optimism Index (BOI) has reached a one-year high in Q2 of 2024, marking a continuous growth trajectory, as reported by the Singapore Commercial Credit Bureau (SCCB). The index climbed to +4.82 percentage points, a slight increase from +4.48 points in the Q1 of 2024, and surpassing the +4.60 points recorded in the same period last year. This growth is supported by improved sales volume, net profit, and new orders, despite a decline in inventory levels and moderate growth in selling price and employment levels. The construction and transportation sectors lead in optimism, while the financial and manufacturing sectors see slight improvements. Conversely, the wholesale sector continues to face challenges, with only two positive indicators.


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