Singapore services business receipts up 2.8% in Q2
SINGAPORE'S services industries are still seeing their takings rise year on year, though at a slowing pace, according to second quarter data from the Department of Statistics on Tuesday.
Business receipts in the service sector grew 2.8 per cent year on year in the second quarter, slowing from 3.6 per cent in Q1 and 4.1 per cent in Q4 2018.
On a quarterly basis, takings were down a marginal 0.1 per cent, marking the second consecutive quarterly decline.
Of the services industries covered, all saw year-on-year growth in business receipts. Transport and storage performed the best, with takings up 5.6 per cent, led by water and air transport.
Both the education, and the health and social services industries saw 4.2 per cent growth, with the latter due mainly to higher revenue from hospitals. Financial and insurances services saw revenue rise 4 per cent.
Takings rose 3.2 per cent in information and communications, and 2.9 per cent in recreation and personal services.
Business services performed the worst, with takings up a marginal 0.1 per cent year on year.
The quarterly business receipts index excludes wholesale and retail trade, as well as accommodation and food services.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Singapore’s inflation eases more than expected in March, with headline inflation at 2.5-year low
8 in 10 firms in S-E Asia, Greater China positive about business environment: UOB survey
Flexi-work request guidelines not meant to prescribe blanket outcomes for employers or influence hiring of workforce: SNEF
Daily Debrief: What Happened Today (Apr 23)
Daily Debrief: What Happened Today (Apr 24)
Daily Debrief: What Happened Today (Apr 22)