Business receipts of Singapore's services sector up 3.3% in Q1

BUSINESS receipts for the services industry in Singapore rose 3.3 per cent year-on-year in the first quarter of 2015, with all but the recreation & personal services segment experiencing turnover growth.

Against the previous quarter, however, business receipts declined 3.4 per cent, and performance was mixed.

In year-on-year terms, the financial & insurance segment enjoyed the highest growth of 9.4 per cent, followed by the health & social services segment at 5.9 per cent growth.

But recreation & personal services saw a 9.9 per cent drop in turnover.

The data released on Wednesday by the Department of Statistics excluded wholesale & retail trade, and accommodation & food services.