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Index of Services rose by 7.1 per cent in first 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.
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Performance of Services Sector |
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The Index of Services rose by 7.1 per cent in the first quarter of 2015 as compared with the same quarter of 2014. The expansion was driven by the growth in the segment of Communication and Transport & Storage (8.5%); Distributive Trade, Food & Beverages and Accommodation (8.4%); Other Services (6.6%) and Finance, Real Estate and Professional (4.0%). As compared with the fourth quarter of 2014, the seasonally adjusted index of services sector grew by 1.5 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 | 132.2 | 7.1 | 100.0 | 132.9 | 1.5 | 100.0 |
| Distributive Trade, Food & Beverages and Accommodation | 44.6 | 135.5 | 8.4 | 53.1 | 136.3 | 2.5 | 74.3 |
| Finance, Real Estate and Professional | 28.4 | 123.3 | 4.0 | 16.0 | 124.7 | 0.2 | 3.8 |
| Communication and Transport & Storage | 21.2 | 137.6 | 8.5 | 25.5 | 136.8 | 0.9 | 12.7 |
| Other Services | 5.8 | 129.6 | 6.6 | 5.4 | 133.3 | 2.4 | 9.3 |
Distributive Trade, Food & Beverages and Accommodation
The segment of Distributive Trade, Food & Beverages and Accommodation increased by 8.4 per cent in the first quarter of 2015 as compared with the same quarter of 2014. This increase was contributed by Distributive Trade sub-sector, 8.8 per cent; followed by Food & Beverages, 6.2 per cent and Accommodation, 5.5 per cent. The seasonally adjusted output of this segment went up by 2.5 per cent as compared to the previous quarter.
Finance, Real Estate and Professional
In the first quarter of 2015, Finance, Real Estate and Professional segment rose by 4.0 per cent as compared to the same quarter last year.This increase was impelled by the Professional sub-sector (11.5%); Real Estate (5.6%) and Finance & Insurance(2.4%). The seasonally adjusted index of Finance, Real Estate and Professional segment registered a mild increase of 0.2 per cent as against the fourth quarter of 2014.
Communication and Transport & Storage
The index of Communication and Transport & Storage posted a growth of 8.5 per cent as compared to the first quarter of 2014. This was induced by the vigorous performance of Information & Communication, 10.9 per cent, while Transportation & Storage rose by 5.0 per cent. On a quarterly basis, the seasonally adjusted output of the Communication and Transport & Storage segment edged up by 0.9 per cent.
Other Services
Year-on-year, the output of Other Services advanced to 6.6 per cent. This increase was led by Private Education, 7.2 per cent; Private Health, 6.3 per cent and Arts, Entertainment & Recreation, 6.3 per cent. As compared to the previous quarter, the seasonally adjusted index of Other Services went up by 2.4 per cent.
*Notes:
Data for
Released By:
THE OFFICE OF CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
12 May 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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