Services

Volume Index of Services Fourth Quarter 2023

Latest Release : 8 February 2024
Upcoming release : 08 August 2025
9 November 2023
Quarterly Services Statistics, Q3 2023 9 November 2023
Volume Index of Services Third Quarter 2023 9 August 2023
Quarterly Services Statistics, Q2 2023 9 August 2023
Volume Index of Services Second Quarter 2023 10 May 2023
Quarterly Services Statistics, Q1 2023 10 May 2023
Volume Index of Services First Quarter 2023 Show all release archives
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Overview

Volume index of Services grew 4.1 per cent year-on-year to record 148.5 points in fourth quarter 2023, bringing the annual performance for 2023 to increase by 5.6 per cent compared to the year 2022. This increase was driven by Wholesale & Retail Trade, Food & Beverages and Accommodation segment which grew 4.2 per cent compared to last year. This was followed by Information & Communication and Transportation & Storage segment (6.6%), Other Services segment (7.0%) and Business Services and Finance segment (1.0%).

 

For quarter-on-quarter comparison, volume index of Services grew 0.6 per cent to record 148.5 points compared to 147.7 points in the previous quarter. This performance was mainly contributed by the increase in Wholesale & Retail Trade, Food & Beverages and Accommodation segment with a growth of 1.0 per cent, followed by Information & Communication and Transportation & Storage segment (1.6%) and Other Services segment (2.5%). However, Business Services and Finance segment recorded a decrease of -1.5 per cent.

 

Meanwhile, the seasonally adjusted volume index for this sector went down -1.1 per cent to stand at 138.9 points in the fourth quarter of 2023.

 

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