Business receipts of service industries rise 14.5% YoY in Q3

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 14.5% YoY and 3.0% QoQ in the third quarter of 2022.

The Department of Statistics Singapore (SingStat) said most industries recorded higher revenue during the quarter, resulting in an increase in overall business receipts.

Amongst industries, Recreation & Personal Services had the highest growth, with revenue rising by 70.4% YoY and 10.2% QoQ.

Behind were Transportation & Storage (+31.2% YoY), Real Estate (+13.7% YoY), Finance & Insurance (+12.0% YoY), Professional Services (+11.4% YoY), Information & Communications (+9.5% YoY), Education (+6.1% YoY), Health & Social Services (+5.1% YoY), and Administrative & Support Services (+2.6% YoY).