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Singapore’s financial industry optimistic about their growth and the economy

Nurdianah Md Nur | Feb. 7, 2014
The optimism on the future prospects of their business and the economy could mean that business opportunities would eventually improve.

Despite the fall in business investment in the last quarter of 2013 (4Q 2013), business confidence within Singapore's financial industry was reported to have increased within the same period.

According to the Global Economic Conditions Survey (GECS), 19 percent of the Singapore respondents reported confidence gains in the prospects of their own organisations in 4Q 2013, an increase from 18 percent in the previous quarter.

More than half of the Singapore respondents (51 percent) also held optimistic views about the state of the republic's economy, a 17 percent increase from the last quarter.

According to Leong Soo Yee, head of ACCA (Association of Chartered Certified Accountants) Singapore, this optimism on the future prospects of their business and the economy could "mean that business opportunities would eventually improve."

The GECS is a quarterly global survey that harnesses the opinions of professionals from the ACCA and IMA (The Association of Accountants and Financial Professionals in Business).

 

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