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.

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