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Services sector sees reprieve in Q3, but revenue 9.5% lower than last year
Economists looking to likely increase in year-end spending amid festive season, mega sales
Sharon See
Published Fri, Nov 27, 2020 · 09:50 PM
Singapore
SINGAPORE'S services sector saw a 9.5 per cent year on year decline in revenue in the third quarter of 2020, although receipts improved on a quarterly basis compared to Q2, according to the Singapore Department of Statistics (SingStat) on Friday.
Q3's year-on-year contraction however eased from the 13.4 per cent decline seen during Q2. The figure excludes wholesale and retail trade and accommodation and food services.
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