Volume index of services rose by 7.1% to record 132.3 points as compared to 123.5 points in the first quarter 2021, in the first quarter of 2022 (1Q2022), according to the latest economic indicator released by the Department of Statistics Malaysia (DoSM).
“This increase can be attributed to the positive growth of all four segments in the services sector which were whole sales and retail trade, food and beverages and accommodation segment, 6.4%, business services and finance segment 2.7%, information and communication and transportation and storage segment, 12.4% and other services segment, 15%,” the statement said.
Similarly, volume index of services also increase on a quarterly basis by 3.6% to 132.3 points as compared to 127.7 points in the fourth quarter 2021.
“This increase was driven by the growth of whole sales and retail trade, food and beverages and accommodation segment, 2.3%, business services and finance segment, 5.6%, information and communication and transportation and storage segment, 4% and other services segment, 4.4%.”
Meanwhile, the seasonally adjusted volume index of this sector grew 6.4% to 131.6 points in the first quarter 2022.
