Singapore services business receipts grow 6.3% in Q3

BUSINESS receipts for the services sector in Singapore grew 6.3 per cent in the third quarter of 2017 compared to a year ago, reflecting an improved global outlook and a strengthening economy.

The data released on Monday by the Department of Statistics showed that all services industries reported growth, with information and communications showing the biggest improvement with a 13.6 per cent jump, followed by health & social services at 9.2 per cent.

On a quarter on quarter, non-seasonally adjusted basis, business receipts went up 0.9 per cent over the second quarter.

The education services industry registered the highest growth in turnover of 11.2 per cent, followed by the health and social services sector at 3 per cent.

The Business Receipts Index (BRI) for the services industries excludes wholesale and retail trade, and accommodation and food services.