Singapore's services industries report 4.6-pct revenue growth in Q4 2019

Source: Xinhua | 2020-02-28

Business receipts of Singapore's services industries, excluding the wholesale and retail trade services and the accommodation and food services, grew 4.6 percent year-on-year in the fourth quarter of 2019.

On a non-seasonally adjusted basis, the business receipts grew 4.5 percent quarter-on-quarter in the period, according to the Business Receipts Index released by Singapore's Department of Statistics on Thursday.

In the fourth quarter, the transport and storage services industry registered a 5.6-percent year-on-year growth in revenue, the highest among all services industries. Within the industry, airlines and shipping companies were among those that reported an increase in revenue.

On a quarter-on-quarter basis, the information and communications industry saw its revenue increase by 6.9 percent in the fourth quarter of 2019.