Overview

Performance of Services Sector

Volume Index of Service jumped 24.3 per cent quarter-on-quarter from 99.2 points to 123.3 points in the third quarter of 2020.

The quarterly increase of Services sector was due to the increase of Wholesale & Retail Trade, Food & Beverages and Accommodation segment (31.0%) and Other Services segment (38.6%). However, year-on-year comparison, Volume Index of Services recorded -5.7 per cent growth to 123.3 points in third quarter 2020.

Seasonally  adjusted  volume index of this sector also rebounded  22.9  per cent  to  122.7  points as compared to the  previous quarter. The main contributors  to this  increase  were  Wholesale  &  Retail  Trade,  Food  &  Beverages  and  Accommodation  segment  which  recorded  30.7 per cent  and  Other Services segment,  35.4 per cent.

                                                           Performance by Segment

Wholesale & Retail Trade, Food & Beverages and Accommodation

For the third quarter 2020, segment of Wholesale & Retail Trade, Food & Beverages and Accommodation jumped  31.0 per cent to record  123.7  points as compared to second quarter of 2020. This drastic increase was due to the Wholesale & Retail Trade sub-sector  (32.1%)  and  Accommodation  sub-sector (134.5%).  However,  for  annual  comparison,  this  segment  declined  6.6 per cent as compared to the same quarter of 2019.

Seasonally adjusted volume index of this segment significantly increase  30.7 per cent to 123.8 points as compared to the previous quarter.

Business Services and Finance

Volume index of Business Services and Finance segment increased 19.6 per cent to register 123.6 points as compared to the previous quarter. This increase was driven by Finance & Insurance sub-sector  (22.0%) and Real Estate sub-sector (22.1%). Meanwhile, for annual comparison, this segment registered a negative growth of  1.9 per cent as compared to the same quarter of 2019.

Seasonally adjusted volume index of this segment experienced notable increase of  15.5 per cent to 122.7 points over the previous quarter.

Information & Communication and Transportation & Storage             

Volume index of Information & Communication and Transportation & Storage segment increased  15.2 per cent to 128.2 points as compared to second quarter of 2020. The growth was stimulated by an  increase in Transport & Storage sub-sector  (55.8%). However, this segment dropped 3.6 per cent as compared to the same quarter of previous year.

Seasonally adjusted volume index in this segment expanded  15.5 per cent to 127.3 points as compared to the second quarter 2020.

Other Services

Segment  of  Others  Services  rebounded  38.6  per cent  to  register  101.6  points  as  compared  to   the  previous  quarter. The  growth  was  primarily  reflected by an increase in Arts, Entertainment & Recreation and Personal Services & Other Activities sub-sector (150.3%).Year-on-year, this  segment  went  down  to  register  21.8 per cent.

Seasonally adjusted volume index of Other Services segment surged  35.4 per cent to 99.3 points in third quarter 2020.

 *Notes:

Data for third quarter 2020 is provisional. The data will be updated and published in the next quarter based on the latest figure.

Released By:

DATO' SRI DR. MOHD UZIR MAHIDIN
CHIEF STATISTICIAN MALAYSIA
DEPARTMENT OF STATISTICS, MALAYSIA
 DrUzir_Mahidin    Dr_Uzir

10 November 2020

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