Singapore Services Receipts up 14.5% in Q3

The Business Times2022-11-25

Singapore’s services industries saw their takings rise 14.5 percent year on year in the third quarter, easing from the 15.6 percent growth rate in Q2, according to Department of Statistics (Singstat) ...

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Warrior388
2022-11-25
Warrior388
Good

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Singstat said this was mainly due to higher earnings of firms in the gaming and attractions segment, compared to the year-ago period when there were stricter restrictions in operating capacity and social gathering group sizes.Transportation and storage saw the next largest growth of 31.2 percent, with increased activities in air transport as travel curbs relaxed overseas and in Singapore. Water transport takings also rose, due mainly to shipping lines.Double-digit growth was also seen in real estate (13.7 percent), finance and insurance (12 percent) and professional services (11.4 percent).On a quarterly basis, business receipts rose most for recreation and personal services (10.2 percent), real estate (9.6 percent) and education (5.7 percent). 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