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Index of Services grew at a slower pace of 4.1 per cent in third quarter 2015
Overview
Introduction
Index of Services is an indicator to measure short-term changes on a quarterly basis for private services activities in Malaysia over a period of time. Index of Services provides information on the performance of the services activities and complement the existing economic indicators, thus assist analysts and researchers to predict the economic growth.
Index of Services covers eleven (11) sub-sectors which are Distributive Trade, Finance & Insurance, Information & Communication, Transportation & Storage, Food & Beverages, Real Estate, Professional, Private Health, Private Education, Accommodation and Arts, Entertainment & Recreation. The index derived from Monthly Survey of Distributive Trade, Quarterly Survey of Services and secondary sources.
The Index of Services is a volume index using 2010 as the base year. Index of Services will be released within six (6) weeks after the reference quarter and is disseminated to the public starting first quarter of 2015.
Performance of Services Sector
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The Index of Services registered a growth of 4.1 per cent in the third quarter of 2015 as compared with the same quarter of 2014. The growth in this quarter was driven by the increase in three segments: Communication and Transport & storage (7.7%) Other Services (6.0%) and Distributive Trade, Food & Beverages and Accommodation (5.2%). The Finance, Real Estate and Professional segment experienced a decrease of 0.9 per cent. As compared with the second quarter of 2015, the seasonally adjusted index of services sector increased by 1.8 per cent. |
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Table 1: Performance of Services Index by Segment
| Description | Weight | Original Index | Seasonally Adjusted Index | ||||
| Index | % Change YoY |
% Contribution |
Index | % Change QoQ |
% Contribution |
||
| Services (2010=100) | 100.0 | 134.9 | 4.1 | 100.0 | 134.5 | 1.8 | 100.0 |
| Distributive Trade, Food & Beverages and Accommodation | 44.6 | 136.5 | 5.2 | 55.9 | 136.0 | 0.7 | 16.9 |
| Finance, Real Estate and Professional | 28.4 | 125.1 | -0.9 | -4.8 | 124.9 | 2.4 | 38.2 |
| Communication and Transport & Storage | 21.2 | 144.0 | 7.7 | 39.3 | 144.0 | 3.5 | 39.3 |
| Other Services | 5.8 | 137.4 | 6.0 | 9.6 | 135.3 | 1.2 | 5.6 |
Distributive Trade, Food & Beverages and Accommodation
The segment of Distributive Trade, Food & Beverages and Accommodation expanded by 5.2 per cent in the third quarter of 2015 as compared with the same quarter of 2014. This increase was contributed by sub-sectors of Distributive Trade, 5.3 per cent; followed by Accommodation, 4.5 per cent and Food & Beverages, 4.3 per cent. The seasonally adjusted index of this segment edged up by 0.7 per cent as compared to the previous quarter.
Finance, Real Estate and Professional
The index of Finance, Real Estate and Professional segment dropped by 0.9 per cent as compared to the corresponding quarter of 2014. This contraction was driven by the decline in Finance & Insurance sub-sector, 3.3 per cent; while Professional and Real Estate sub-sectors increased by 9.1 per cent and 3.9 per cent respectively. The seasonally adjusted output of Finance, Real Estate and Professional segment registered an increase of 2.4 per cent as against the second quarter of 2015.
Communication and Transport & Storage
In this quarter, Communication and Transport & Storage segment went up by 7.7 per cent as compared to the same quarter of 2014. This increase was led by the positive growth of 9.8 per cent in Information & Communication sub-sector and 4.5 per cent in Transportation & Storage sub-sector. On a quarterly basis, the seasonally adjusted output of the Communication and Transport & Storage segment grew by 3.5 per cent.
Other Services
Year-on-year, momentum of Other Services segment expanded by 6.0 per cent. This growth was underpinned by Private Education, 7.0 per cent; Arts, Entertainment & Recreation, 5.5 per cent and Private Health, 5.2 per cent. As compared to the previous quarter, the seasonally adjusted index of Other Services increased by 1.2 per cent.
*Notes:
Data for third
Released By:
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
9 November 2015
Contact person:
Norrita binti Amran
Public Relation Officer
Corporate and User Services Division
Department of Statistics, Malaysia
Tel : +603-8885 7942
Fax : +603-8888 9248
Email : norrita.amran@stats.gov.my
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