SMEs reported, on average, a 14% decline in revenue in Q2 compared to Q1, less severe than the 28% drop predicted. Stronger-than-expected Q2 performance has led to a boost in optimism, with index scores jumping from 79 out of a possible 200 points at the start of Q2, to 95 points at the start of Q3. This is also reflected in business outlook – 36% of SMEs report a positive outlook for their own business this quarter, up from 21% in Q2. Across all sectors, SMEs predict a 5% increase in revenue for Q3 compared to Q2, which grows to 14% over the next 12 months, according to the official press release.
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