SINGAPORE, Feb. 26 (Xinhua) -- The overall business receipts of Singapore's services industries, excluding the wholesale and retail trade services and the accommodation and food services, fell 7.9 percent year-on-year in the fourth quarter of 2020.
That is smaller than the 10.2-percent decline in the previous quarter, according to the Business Receipts Index released by the Singapore Department of Statistics (DOS) on Friday.
On a non-seasonally adjusted basis, the overall business receipts grew 7.9 percent quarter-on-quarter in the fourth quarter of 2020, following a 5.5-percent growth in the third quarter.
DOS said the recreation and personal services industry and the transportation and storage industry saw their revenues decline 37.6 percent and 22.4 percent year-on-year respectively in the fourth quarter, because business activities in the attractions, gaming and air transport segments continued to be negatively affected by the global travel restrictions as a result of the COVID-19 pandemic.
On the other hand, the information and communications services industry reported a growth in turnover of 12.1 percent, due mainly to an increase in business activities of software publishers. Enditem
