Volume Index Of Services Experienced Robust Growth Of 6.7 Per Cent In Q2 2024 - DOSM

PUTRAJAYA, Aug 8 (Bernama) -- The Volume Index of Services experienced a robust 6.7 per cent growth in the second quarter (Q2) of 2024, recording 152.2 points, according to Volume Index of Services, Second Quarter 2024, released today by the Department of Statistics Malaysia (DOSM).

Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin in a statement today said the performance of the Volume Index of Services for Q2 2024 was attributed to the growth in the business services and finance segment which experienced a 10.4 per cent increase to reach 144.7 points, followed by wholesale & retail trade, food & beverage and accommodation segment which registered a growth of 5.1 per cent to reach 152.6 points.

“In the same period, the information & communication and transportation & storage segment rose 6.0 per cent to stand at 167.8 points, while other services segment grew 7.4 per cent,” he said.

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For quarter-on-quarter comparison, he said the Volume Index of Services had a 1.2 per cent increase in Q2 2024, supported by the increase in wholesale & retail trade, food & beverage and accommodation segment, followed by information & communication and transportation & storage segment (1.8 per cent), and other services segment (0.9 per cent.

However, the business services and finance segment decreased -0.1 per cent, he said.

Mohd Uzir said that the seasonally adjusted volume index increased by 3.9 per cent compared to Q1 2024, resulted by the increase in wholesale & retail trade, food & beverage and accommodation segment (4.9 per cent);  business services and finance segment (3.3 per cent); information & communication and transportation & storage segment (1.9 per cent, and other services segment (5.7 per cent).

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-- BERNAMA