Services sector business receipts jumped 5.2% in 4Q 2010

Business receipts improved 9.8% y-o-y in the fourth quarter of last year.

According to Singapore Department of Statistics, business receipts of the services sector, excluding wholesale & retail trade and hotels & restaurants, rose 5.2% in the fourth quarter 2010 over the previous quarter, with positive growths reported by all major services industries.

Information & communications services reported an 11.9% increase in turnover, followed by education services with a turnover growth of 10.3%.

All other services industries registered improved business receipts from 2.6% to 6.9%.

On a year-on-year basis, all services experienced positive growths. "Other activities", real estate, rental & leasing and financial & insurance services registered significant turnover growths of 39.5%, 14.8% and 10.6% respectively during fourth quarter 2010.

Higher business receipts were also reported in business services (9.6%), information & communications (8.1%), education (6.8%), health & social work (5.4%) and transport & storage (3.2%) services industries.

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