Singapore service sector's sales up 6% in Q4

SINGAPORE: Sales by Singapore's services industries, going by a business receipts index, rose 6 per cent year-on-year in the fourth quarter of 2014, on the back of strong performance by the financial & insurance and education sectors.

Sales rose by 5.7 per cent when compared to the previous three months. The index excludes wholesale & retail trade and accommodation & food services.

Every sector in the services industry saw their sales rise in the fourth quarter, except for recreation & personal services, according to data by the Department of Statistics released on Friday.

Leading the growth was financial & insurance with a 13.5 per cent on-year jump, followed by education at 7.8 per cent and health & social services at 7.2 per cent.

However, recreation & personal services sector saw a 2.2 per cent on-year dip in the same quarter, the figures showed.