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Business Receipts Indices for Service Industries released
According to statistics released today (Thursday) by the Census and Statistics Department, business receipts in many service industries showed notable increases in value terms in the third quarter of 1995 over a year earlier. The hotels and banking industries registered the fastest growth, both by 20% in value terms. The storage industry also grew by 19%.
The strong growth in the hotels industry was brought about by an accelerated growth in tourist. arrivals, while the surge in the banking industry was mainly attributable to an increase in net interest income.
The growth in the storage industry was related to a continued rapid increase in imports and re-exports.
Meanwhile, considerable increases in business receipts were also registered in the following service industries: transport (+16%); insurance (+16%); communications (+15%) and import/export (+10%).
On the other hand, business receipts in the financing (except banking) and wholesale industries recorded decreases, by 23% and 5% respectively in value terms. The sharp decrease in the former was in line with the decline in stock exchange turnover in the quarter compared with a year earlier.
Compared with the second quarter of 1995, business receipts in most industries recorded increases of various magnitudes.
Among them, business receipts in the business services and transport industries registered the most rapid increases in value terms, by 11% and 10% respectively.
The storage, retail, import/export, insurance and restaurants industries registered moderate growth, by 8%, 8%, 6%, 6% and 5% respectively in value terms.
Table 1 presents the provisional business receipts indices for service industries for the third quarter of 1995. Revised indices for the second quarter of 1995 are also included. The quarterly average of business receipts in 1992 was taken as 100.
Table 2 shows the time series of quarterly business receipts indices. Annual indices are also included.
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