4 Jan 2018: Economy and SME Financing News
According to the latest purchasing managers’ index (PMI), the reading for Dec 17 came in at 52.8, very slightly below Nov’s reading at 52.9. The PMI is an early indicator of manufacturing activity and a reading above 50 indicates growth. This means that manufacturing had reached its 16th consecutive month of expansion. As it comprises around 20% of the Singapore economy, manufacturing has been a main driver of growth in 2017. The strong growth was propelled by a strong showing in factory output from the electronics sector, but may be expected to moderate after more than a year of good growth. PMI indicators in the region were mixed – while China, India, Vietnam and Taiwan expanded their factory outputs; Indonesia, Malaysia and South Korea contracted.
The source data or relevant report can be found at the website of the Singapore Institute of Purchasing and Materials Management (SIPMM).
The PMI report revealed that the manufacturing sector had been the main driver behind the strong economic growth in 2017. Does your SME ride on the expansion wave in factory output? Does your SME expect additional business to flow in and need to expand production capacity? We hope that this is so for your SME. If you are thinking about financing options like working capital loans, invoice financing/factoring or cross-border financing, we will be glad to discuss the options for simple and affordable financing for your SME.
At IFS Capital Limited, we understand that all businesses are different in their needs and characteristics. That is why we are happy to explore financing options that meet the unique needs of your SME.
Why not drop us a note by clicking this form here and we can discuss this in further detail with you.
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