Services sector revenue up 8.3 pct to RM414.2 bln in 2Q

KUALA LUMPUR: Services sector revenue increased 8.3 per cent to RM414.2 billion in the second quarter 2018 (2Q) compared with the same quarter last year.

In a statement, the Department of Statistics Malaysia said the growth was propelled by wholesale and retail trade; food and beverages and accommodation segment which increased RM24.7 billion or 8.1 per cent.

“The expansion was also contributed by information and communicat ion, and transportation and storage segment which grew by RM4.6 billion,” it said.

Meanwhile, total revenue on a quarterly basis increased RM11.2 billion or 2.8 per cent.

The number of persons engaged in thi s sec tor total led 3.67 mi l l ion, an increase of 2.1 per cent as compared to the same quarter last year.

On a qua r t erly bas i s comparison, the number of

The expansion was also contributed by information and communication, and transportation and storage segment which grew by RM4.6 billion. Department of Statistics Malaysia

persons engaged recorded an increase of 1.4 per cent.

Salaries and wages paid grew 3.7 per cent to RM24.1 billion.

Information and communication sub- sector registered the highest growth in number of person engaged at 3.7 per cent, followed by arts, entertainment and recreation sub- sector which increased 3.1 per cent.

Salaries and wages paid i n educat ion sub- sector recorded t he hi g he s t growth of 5.5 per cent to RM1.1 billion.

Meanwhi le, the volume index of services recorded a growth of 6.7 per cent to 158.8 points in the second quarter of 2018 as compared to the same quarter in the previous year.

The seasonal ly adjusted volume index of this sector increased by 1.5 per cent as compared to the previous quarter.

“The momentum of this i nc r e a se wa s driven by i n f o rma t i o n an d c ommu n i c a t i o n , and transportation and storage segment ( 7.6 per cent) and wholesale and retail trade, food and beverage and accommodation segment ( 7.2 per cent).

Other services segment and finance, real estate and professional segment recorded an increase of 6.5 per cent and 5.1 per cent respectively,” t h e dep a r tment sa id . — Bernama