Service sector takings up 8.6% in Q4

The service sector ended last year on a strong note, with overall takings up 8.6 per cent in the fourth quarter over the same period in 2016.

All services industries performed better in the quarter, with the information and communications segment reporting the largest jump of 13.6 per cent, according to Singapore Statistics Department data released yesterday.

Other industries with double-digit growth included education services at 13.3 per cent, and health and social services at 11.9 per cent.

Business receipts for recreation and personal services (9.8 per cent), financial and insurance services (9.2 per cent), business services (7.1 per cent), and transport and storage (4.3 per cent) also all rose in the fourth quarter.

Turnover of the overall service sector - excluding wholesale and retail trade and accommodation and food services - rose 4.9 per cent over the third quarter.

Education services registered the highest growth in turnover of 10.1 per cent compared with the previous three months.

This was followed by business services (6.1 per cent), information and communications (5.6 per cent), recreation and personal services (4.9 per cent), financial and insurance services (3.6 per cent), and transport and storage (3.2 per cent).


A version of this article appeared in the print edition of The Straits Times on February 28, 2018, with the headline 'Service sector takings up 8.6% in Q4'. Print Edition | Subscribe