Business receipts value up YoY in Q3 2024

A double-digit increase was recorded in transportation, financing, and insurance.

Business receipts in value terms of service industries increased year-on-year in the third quarter of 2024, according to the Census and Statistics Department.

Double-digit increases were recorded in the indices of transportation (+17.3%), financing (+13.7%), and insurance (+11.7%) industries.

The computer and information technology services domain also increased by 34.4%. Meanwhile, tourism and accommodation decreased 5.3% and 10.2%, respectively.

On a seasonally adjusted quarter-to-quarter comparison, business receipts in around half of service industries recorded decreases. In particular, a double-digit decrease was seen in the real estate (-10.6%) industry.

This was offset by increases in insurance (7%), computer and information technology (13.4%), and tourism (11.5%).

“Looking ahead, the business of the service industries as a whole should continue to expand. The Mainland's various measures to boost the economy, together with the initiatives in the 2024 Policy Address will benefit various service industries, though some may be more affected by increased global economic uncertainties and trade conflicts,” a government spokesman said

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