Singapore's services sector sees flat turnover in Q4

When compared to the previous three months, turnover rose 3.2 per cent in October to December.
When compared to the previous three months, turnover rose 3.2 per cent in October to December.PHOTO: ST FILE

SINGAPORE - Singapore's services sector managed a mere 0.2 per cent increase in business receipts for the fourth quarter of last year compared to the year-ago period.

When compared to the previous three months, turnover rose 3.2 per cent in October to December.

The data, released by the Department of Statistics on Friday (Feb 26), exclude wholesale & retail trade, and accommodation & food services.

On a year-on-year basis, performance was mixed among the services industries. Health & social services was the best performer with saw turnover up 6.6 per cent, followed by financial & insurance services (3.5 per cent), information & communications (2.5 per cent) and education services (1.5 per cent) industries.

On the other hand, the recreation & personal services industry experienced the largest drop of 7.0 per cent in turnover in fourth quarter 2015 as compared to the same period last year.

Receipts collected by the business services industry also declined 2.8 per cent.


GRAPHIC: DEPARTMENT OF STATISTICS SINGAPORE