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Thursday, a report by the Singapore Department of Statistics said the overall business receipts of the services sector, which excludes wholesale and retail trade, as also hotels and restaurants, rose 0.7% sequentially in the third quarter. This comes after a 1.3% fall in the second quarter.
Year-on-year, the receipts of the services sectors, dropped 4.4% in the third quarter, at the same pace as in the second quarter.
On a quarterly basis, professional, scientific, technical and administrative services showed the biggest increase in receipts of 5%, followed by a 2.1% rise each in transport and storage and in health and social work. However, the biggest drop of 4.3% was in information and communication.
On a yearly basis, the biggest contributor to the fall in receipts was transport and storage, which showed 18.9% decrease. At the same time, health and social work showed the fastest rise of 4.6%.
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