Business receipts of services sector climb 2.9% in 3Q11

And education services grew the most at 26.2%.

Business receipts of the services sector, excluding wholesale & retail trade and accommodation & food services, grew by 2.9% in third quarter 2011 over the previous quarter, according to the Singapore Department of Statistics.

Within the services sector, industries which registered growth include education services (26.2%), financial & insurance services (3.6%), recreation & personal services (3.5%), real estate, rental & leasing services (2.6%), transport & storage services (1.3%) and business services excluding real estate, rental & leasing services (0.8%).

For information & communications services and health & social services, business receipts remained at similar level in third quarter 2011 compared to the previous quarter.

Year-on-Year Change
On a year-on-year basis, all services industries fared well in third quarter 2011, with the education and financial & insurance services reporting double-digit growth of 16.7% and 12.0% respectively.The other services industries registered growth ranging from 2.2% (business services excluding real estate, rental & leasing) to 9.5% (information & communications) during the quarter.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

Tags: business receipts services sector 3Q11, education services, wholesale & retail trade, accommodation & food services