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Index of Services rose by 5.0 per cent in second 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 is released within six (6) weeks after the reference quarter and was disseminated to the public starting first quarter of 2015.
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Performance of Services Sector |
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The Index of Services grew by 5.0 per cent in the second quarter of 2015 as compared with the same quarter of 2014. The increase was supported by the growth in the segment of Communication and Transport & Storage (7.4%); Other Services (6.3%); Distributive Trade, Food & Beverages and Accommodation (5.2%) and Finance, Real Estate and Professional (2.4%). As compared with the first quarter of 2015, the seasonally adjusted index of services sector decreased by 0.7 per cent. |
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Table 1: Performance of Services Index by Segment
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Description |
Weight |
Original Index | Seasonally Adjusted Index | ||||
| Index | % Change YoY | % Contribution | Index | % Change QoQ | % Contribution | ||
| Services (2010=100) | 100.0 | 131.6 | 5.0 | 100.0 | 132.1 | -0.7 | 100.0 |
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Distributive Trade, Food & Beverages and Accommodation
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44.6 | 134.3 | 5.2 | 47.9 | 134.9 | -1.1 | -34.8 |
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Finance, Real Estate and Professional
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28.4 | 120.6 | 2.4 | 13.5 | 122.1 | -2.0 | -40.0 |
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Communication and Transport & Storage
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21.2 | 139.7 | 7.4 | 31.3 | 139.0 | 1.6 | 166.3 |
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Other Services
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5.8 | 134.3 | 6.3 | 7.3 | 133.9 | 0.3 | 8.5 |
Distributive Trade, Food & Beverages and Accommodation
The segment of Distributive Trade, Food & Beverages and Accommodation rose by 5.2 per cent in the second quarter of 2015 as compared with the same quarter of 2014. This increase was contributed by sub-sectors of Accommodation, 6.1 per cent; followed by Distributive Trade, 5.2 per cent and Food & Beverages, 5.0 per cent. The seasonally adjusted index of this segment went down by 1.1 per cent as compared to the previous quarter.
Finance, Real Estate and Professional
In the second quarter of 2015, Finance, Real Estate and Professional segment increased by 2.4 per cent as compared to the corresponding quarter of 2014. This increase was driven by the Professional sub-sector (9.2%); Real Estate (4.9%) and Finance & Insurance (0.8%). The seasonally adjusted output of Finance, Real Estate and Professional segment registered a decrease of 2.0 per cent as against the first quarter of 2015.
Communication and Transport & Storage
The index of Communication and Transport & Storage went up by 7.4 per cent as compared to the second quarter of 2014. This growth was backed by the increase of 9.7 per cent in Information & Communication sub-sector and Transportation & Storage, 4.1 per cent. On a quarterly basis, the seasonally adjusted output of the Communication and Transport & Storage segment grew by 1.6 per cent.
Other Services
Year-on-year, the output of Other Services expanded by 6.3 per cent. This increase was led by Private Education, 6.8 per cent; Arts, Entertainment & Recreation, 6.2 per cent and Private Health, 6.0 per cent. As compared to the previous quarter, the seasonally adjusted index of Other Services increase marginally by 0.3 per cent.
*Notes:
Data for second
Released By:
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
10 August 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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