Service industries post double-digit business receipts growth in Q3

The warehousing and storage industry posted the largest annual increase at 18.1%.

Individual service industries performed strongly in Q3 as their respective business receipts indices (BRI) registered double-digit growth with the warehousing and storage industry posting the largest annual increase at 18.1%, according to provisional figures of BRI by the Census and Statistics Department.

The courier, banking and insurance industries similarly rose at 17.1%, 10.9% and 10.8% respectively. 

Only the real estate industry registered a marginal 2.1% decline in business receipts in Q3.

Analysed by service domain, business receipts of the tourism, convention and exhibition services domain increased by 2.1% YoY, whilst computer and information technology services domain also increased by 2.5% YoY.

C&SD defines business receipts as service receipts, receipts from sales of goods, commissions, rental, interest and other income of an establishments which serve to reflect the short-term economic performance of individual service industries.

Photo from CTsabre14 - Own work, CC BY-SA 3.0