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Singapore services sector's sales revenue up 5.7% quarter on quarter in Q4

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Business receipts of the services industries in Singapore grew by 5.7 per cent (non-seasonally adjusted) in Q4 2014 over the preceding quarter.

BUSINESS receipts of the services industries in Singapore grew by 5.7 per cent (non-seasonally adjusted) in Q4 2014 over the preceding quarter.

This figure excludes wholesale & retail trade as well as accommodation & food services.

On a year-on-year basis, overall business receipts rose 6 per cent.

All services industries fared well in the quarter, except for education services whose turnover fell 1.7 per cent.

Recreation & personal services reported the highest growth of 11 per cent in business receipts, followed by financial & insurance services and business services (excluding real estate, rental & leasing). Both these industries grew 9.1 per cent.

Similarly, higher business receipts were also reported by transport & storage services (up 4.9 per cent); real estate, rental & leasing services (up 1.8 per cent); health & social services (up 1.2 per cent); and information & communication services (up 1.2 per cent).