Singapore's services sector grows 8% in Q3, led by business and finance segments

Companies in the service industry saw their takings rise 8 per cent in the third quarter compared with last year, according to data released on Wednesday by the Department of Statistics.

Turnover from all service sectors registered growth. In particular, business services excluding real estate, rental and leasing services rose 12.2 per cent, while finance and insurance services reported expansion of 11.6 per cent.

Higher takings were also seen in a range of other service sectors, including recreation and personal services, education services, and health and social services.

The business receipts data excludes firms in wholesale and retail trade as well as those in accommodation and food services.