Business receipts of services industries dip 0.5%

Receipts from education, recreation, and financial services also dropped.

According to SingStat, business receipts of the services industries, excluding wholesale & retail trade and accommodation & food services, declined by 0.5% in second quarter 2012 over the previous quarter, due to mixed performances within the services industries.

Here's more from SingStat:

Higher turnover was registered by business services excluding real estate, rental & leasing services (4.6%) followed by transport & storage services (1.1%) and real estate, rental & leasing services (1.1%) in second quarter 2012 over the previous quarter.

In contrast, education services, recreation & personal services and financial & insurance services recorded a drop in business receipts of 15.3%, 8.4% and 1.1% respectively. Information & communications and health & social services recorded smaller declines of 0.8% and 0.7% respectively.

On a year-on-year basis, the services industries, excluding wholesale & retail trade and accommodation & food services, grew by 6.0% in second quartewr 2012 compared to the dame quarter in 2011, due to higher turnover recorded by all services industries.

Education servics and health & social services reported increases in business receipts of 13.6% and 92% respectively. Higher turnover was also recorded by business services excluding real estate, rental & leasing (7.9%) and transport & storage services (6.8%).

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