Business receipts rose by almost a third at 28.7%.
Business receipts in the finance sector, excluding banking, led quarterly growth after surging by 28.7% YoY in Q1, according to the Census and Statistics Department.
The warehousing and storage sector also performed well after business receipts rose 17.6% thanks to strong trade inflows to and from the Mainland.
Also read: Goods export up 5.3% in March
A continued recovery in the retail sector also pushed business receipts up 14.4% in Q1 as strengthening tourism levels buoyed transactions and leasing activity.
Business receipts for the courier, transportation, accommodation and food services also went up 13.7%, 10.8%, 10.6% and 10% respectively.
Analysed on a service domain basis, business receipts of the tourism, convention and exhibition services domain increased by 12.3% YoY whilst those of the computer and information technology services domain also went up 4.0% YoY over the same period.
Do you know more about this story? Contact us anonymously through this link.