Service sector business receipts up 6.6% in 2Q11

Real estate services recorded the highest business receipts at 4.4%.

Business receipts of the services sector, excluding wholesale & retail trade and accommodation & food services, remained at similar level in second quarter 2011 compared to the previous quarter.

Compared to second quarter 2010, overall business receipts rose 6.6%.

Performance within the services sector was mixed. Services industries that recorded higher business receipts included real estate, rental & leasing services (4.4%), business services excluding real estate, rental & leasing (2.1%), transport & storage services (1.8%) and health & social services (0.9%).

On the other hand, turnover of the education services industry decreased 22.0% while business receipts from recreation & personal services and financial & insurance services fell 1.6% and 0.8% respectively. Turnover of information & communications services also declined 0.4% during the quarter.

Year-on-Year Change

Compared to the same quarter of 2010, all services industries experienced positive growth.

Health & social services and financial & insurance services reported double-digit growth of 11.1% and 10.4% respectively.

The other services industries experienced turnover growth of between 0.4% and 8.3%.

Photo from DSK Developers Ltd