Singapore's services industries records 3.6 pct growth in business receipts in Q1

Source: Xinhua | 2019-05-28

Business receipts of Singapore's services industries, excluding the wholesale and retail trade services and the accommodation and food services, rose 3.6 percent year on year in the first quarter of 2019.
On a non-seasonally adjusted basis, the business receipts fell 0.4 percent quarter on quarter in the period, according to the Business Receipts Index released by Singapore's Department of Statistics on Monday.
In a breakdown and on a year-on-year basis, the information and communications services industry recorded a growth of 7.2 percent, due mainly to higher receipts from firms engaged in computer programming and consultancy services and information service activities such as web hosting and web portal services.
On a quarter-on-quarter basis, business receipts of the transport and storage services industry registered a decrease of 5.6 percent, mainly due to the water transport segment, which received lower demand for their services.