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Service industry's business receipts up 3.2% in Q4 2015

On a year-on-year basis, overall business receipts rose 0.2 per cent, according to the Department of Statistics Singapore. 

SINGAPORE: Business receipts of service industries, excluding wholesale and retail trade, as well as accommodation and food services, rose 3.2 per cent in the fourth quarter of 2015 over the previous quarter, the Department of Statistics Singapore (SingStat) said on Friday (Feb 26). 

SingStat added that the information and communications services industry reported the highest growth of 7.3 per cent on a quarter-on-quarter basis, followed by financial and insurance, which grew by 3.9 per cent, and business services industries, which increased 3.6 per cent in the fourth quarter over the preceding quarter. 

Transport and storage services grew by 2.7 per cent while health and social services saw 2.7 per cent growth on a quarter-on-quarter basis as well, SingStat said. 

Education services recorded a decline of 5.4 per cent in business receipts compared to the previous quarter, according to SingStat.

On a year-on-year, non-seasonally-adjusted basis, overall business receipts rose 0.2 per cent, SingStat said.