KUALA LUMPUR: Malaysia’s volume index of services grew 4.4 per cent year-on-year to record 146.7 points in the third quarter of 2023 (3Q 2023), driven by wholesale and retail trade, food and beverages and accommodation segment, according to the Department of Statistics Malaysia (DoSM) today.
Wholesale and retail trade, food and beverages and accommodation segment grew 5.1 per cent to 148.7 points year-on-year, business services and finance segment (0.2 per cent), information and communication and transportation and storage segment (6.9 per cent), and other services segment (8.7 per cent).
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said leading contributors for wholesale and retail trade, food and beverages and accommodation were wholesale and retail trade (5.0 per cent), followed by food and beverages (2.2 per cent) and accommodation (17.1 per cent).
“Concurrently, business services and finance segment improved 0.2 per cent in the 3Q 2023 following the increase in professional, scientific and technical and administrative and support services (9.1 per cent) and real estate (8.0 per cent),” he added.
Mohd Uzir said the information and communication and transportation and storage segment increased by 6.9 per cent to record 160.3 points, contributed by the growth of information and communication (3.5 per cent) and transportation and storage (12.6 per cent).
“At the same time, the other services segment recorded a volume index of 119.4 points with a growth of 8.7 per cent, attributed to the increase in private health (11.3 per cent), private education (4.1 per cent), and arts, entertainment and recreation and personal services and other activities (11.1 per cent),” he added.
Mohd Uzir noted that the seasonally adjusted volume index registered a growth of 0.7 per cent compared to 2Q 2023, driven by the growth in the business services and finance segment (2.8 per cent), information and communication and transportation and storage segment (1.1 per cent), and other services segment (1.2 per cent).
“Conversely, the wholesale and retail trade, food and beverages and accommodation segment inched down 0.5 per cent,” he added. – Bernama
