Singapore business receipts up 8%

Here's how each segment fared.

According to the Department of Statistics, on a year-on-year basis, overall business receipts rose 8.0%.

Business receipts of the services industries, excluding wholesale & retail trade and accommodation
& food services, grew by 0.7% in third quarter 2013 over second quarter 2013*.

Among the services industries, performance was mixed. Education services recorded the highest increase of 15.2% in turnover during the quarter, followed by the recreation & personal services industry with an increase of 4.6%.

Other services industries that reported higher turnover included business services excluding real estate, rental & leasing services (2.5%), transport & storage services (1.5%) and health & social services (0.9%).

On the other hand, business receipts of financial & insurance services fell 2.9% in third quarter 2013 compared to the previous quarter. Information & communications services and real estate, rental & leasing services also registered a decrease of 0.9% and 0.6% respectively in turnover during the quarter.

Compared to third quarter 2012, overall business receipts rose 8.0%. All services industries experienced growth in turnover, with business services excluding real estate, rental & leasing services and financial & insurance services reporting the highest growth of 12.2% and 11.6% respectively.

Similarly, higher business receipts were registered by recreation & personal services (8.4%), education services (6.9%), real estate, rental & leasing services (6.1%), health & social services (5.2%), information & communications services (4.7%) and transport & storage services (3.8%).

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