Business receipts of service industries rise 10.9% YoY in Q422
Recreation & Personal Services had the highest growth in revenue amongst industries.
Business receipts of the service industries, excluding Wholesale Trade, Retail Trade, Accommodation and Food Services, grew 10.9% YoY and 2.9% QoQ in the fourth quarter of 2022.
The Department of Statistics Singapore (SingStat) said most industries recorded higher revenue during the quarter, increasing overall business receipts.
Amongst industries, Recreation & Personal Services had the biggest growth, with revenue rising by 36.8% YoY.
Transportation & Storage (+6.3% YoY), Real Estate (+12.6% YoY), Finance & Insurance (+12.8% YoY), Professional Services (+11.5% YoY), Information & Communications (+14.9% YoY), Education (+1.1% YoY), Health & Social Services (+6.0% YoY), and Administrative & Support Services (+4.5% YoY) also recorded revenue increase in Q4.
Workplace 3.0: Transforming work environments to support innovation and meaningful work
The race to gender equity for Asia’s startups
How Many Apps Does It Take to Change a Workplace?
In an era of zero-sum thinking, business leaders must unlock a mutually beneficial future
Diversifying your portfolio: Alternative investments in Singapore to consider in a low-interest rate environment
Navigating the digital future: A closer look at Singapore Budget 2023 measures in view of the rapidly changing workplace