SINGAPORE, Nov. 28 (Xinhua) -- Overall business receipts of Singapore's services industries (excluding Wholesale Trade, Retail Trade, Accommodation and Food Services) increased 3.2 percent in the third quarter of 2023 from a year ago, according to Singapore's Department of Statistics (DOS).
All industries except the Transportation & Storage and Administrative & Support Services industries registered higher business receipts year on year, said the Business Receipts Index released by the DOS on Monday.
On a quarter-on-quarter basis, overall business receipts (non-seasonally adjusted) increased 1.9 percent in the third quarter of 2023. All industries except the Transportation & Storage and Professional Services industries registered higher business receipts.
The Recreation & Personal Services industry reported an increase of 20.8 percent in revenue. This was mainly attributed to higher earnings of firms in the sports, gaming and attractions segments.
Similarly, the Information & Communications industry registered a 15-percent growth, with higher business receipts observed across various segments such as software development, IT consultancy, information services and online marketplaces.
On the other hand, the Transportation & Storage industry recorded a decrease of 20.7 percent in turnover. This was mainly due to the water transport segment which registered a decline in revenue as a result of lower freight rates in the shipping industry. ■
