Singapore’s services industry business receipts edge up 0.4% in Q2
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Singapore’s services sector saw a mixed performance in the second quarter with overall revenue edging up 0.4 per cent year on year.
This is according to the latest business receipts index, released on Friday (Aug 26) by the Department of Statistics Singapore, which excludes wholesale & retail trade and accommodation & food services.
The health & social services industry reported the largest revenue growth of 7.7 per cent in April-June quarter from the same period a year ago.
Other industries with higher business receipts included education services (5.0 per cent) and information & communications services (1.4 per cent).
Industries that saw lower turnover included transport & storage services (-2.2 per cent) and recreation & personal services (-1.6 per cent).
Questions & Answers
Q.Which specific industries contributed most to the overall services sector revenue increase?
Which specific industries contributed most to the overall services sector revenue increase?
Health & social services reported the largest growth at 7.7%. Education services increased by 5.0%, and information & communications services saw a 1.4% rise in their business receipts during the quarter.
Q.Which service industries experienced a decline in their business receipts for the second quarter?
Which service industries experienced a decline in their business receipts for the second quarter?
Transport & storage services saw a decrease of 2.2%. Also, the recreation & personal services industry experienced a smaller downturn, with its turnover falling by 1.6% during the same period.
Q.What types of services are explicitly excluded from this business receipts index for Singapore?
What types of services are explicitly excluded from this business receipts index for Singapore?
The Department of Statistics Singapore specifically excludes wholesale & retail trade from this index. Accommodation & food services are also not included when calculating the overall services sector revenue performance.
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