Singpore governments QBRI services sector Business rose 8.2%

The Quarterly Business Receipts Index (QBRI) for the services sector (excluding
wholesale & retail trade and accommodation & food services) measures the short-term changes in the amount of business or operating receipts on a quarterly basis. The QBRI is compiled at current prices. Business receipts of the services sector, excluding wholesale & retail trade and  accommodation & food services, remained at similar level when comparing to the  previous quarter. Compared to first quarter 2010, overall business receipts rose 8.2%.

Quarter-on-Quarter Change:-

Business receipts of the services sector, excluding wholesale & retail trade and
accommodation & food services, remained at similar level when comparing to the
previous quarter.

A number of services industries reported higher business receipts, including financial &  insurance services (4.3%), education (4.0%), health & social services (2.7%), recreation & personal services (2.3%) and information & communications (0.5%) (Table 1).On the other hand, turnover of transport & storage and business services excluding real estate, rental & leasing fell 4.1% and 3.0% respectively. Real estate, rental & leasing services reported a 1.1% drop in turnover.

Year-on-Year Change:-

On a year-on-year basis, all services industries reported positive growths, except
education which reported a 11.5% decline in turnover (Table 2).
A few services industries experienced double-digit growth in first quarter 2011,
including recreation & personal services (36.9%), health & social services (15.2%) and financial & insurance services (12.6%). All the other services industries (except education) also experienced turnover growths of between 4.9% and 7.0%.