Singapore business turnovers creep up 1.1% in 2Q16

Thanks to well-performing recreation and business services industries.

Singapore’s overall services industries business receipts improved 1.1% QoQ in 2Q16 compared to the immediately preceding quarter. On a yearly basis, revenue of the services industries also inched up 0.4%.

Non-seasonally adjusted QoQ figures released by the Department of Statistics revealed that majority of the services industries had higher revenues this quarter with education services, and financial and insurance industries as exceptions.

The biggest gainer was the recreation and personal services industry at +4.9%, followed by business services at +3.7%. Trailing behind were health and social services, information and communications services, and transport and storage industry with marginal 1.6%, 1.0%, and 0.4% increases respectively.

The education services suffered the largest drop, 8.2%, while the financial and insurance industries dipped 0.3%.

On a YoY basis, the health and social services sector nabbed the heftiest growth at +7.7%. Education services was on the positive side and with the second biggest turnover at +5%.

Also Read

Singapore ranks second in global economic freedom

Economists forecast modest NODX growth for Singapore in 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit