Service industries' sales jump in Q4

Sales for over half of the major service industries improve.

The Census & Statistics Department said almost all major service industries’ sales showed sharp increases in value in the fourth quarter of 2012 year-on-year.

Double-digit increases were recorded in the courier (+27.5%), warehousing and storage (+16.1%), insurance (+14.8%), real estate (+14.6%), accommodation services (+13.5%), information and communications (+12.6%), and financing (except banking) (+10.6%) industries.

Tourism, convention and exhibition services business receipts rose 11.1%, while those of computer and information technology services rose 9.4% during the same period.

On a seasonally adjusted quarter-to-quarter comparison, over half of the major service industries recorded increases in sales in the fourth quarter of 2012 when compared with the third quarter of 2012.

Financing (except banking) industry business receipts climbed 24.3%. The banking industry was among those major service industries recording decreases in that period, registering a 5.7% fall.

Comparing the fourth quarter of 2012 with the third quarter of 2012, tourism, convention and exhibition services business receipts rose 5.7%, while those of computer and information technology services fell 1.9% on a seasonally adjusted basis.

For 2012 as a whole, most major service industries recorded year-on-year increases in business receipts, including warehousing and storage (+25.1%) and courier (+16.1%) industries. The import/export trade saw a 1.3% decline, while professional, scientific and technical services industries’ receipts fell O.6%.