SINGAPORE'S business receipts index, measuring activity in the fast-growing services industry, rose 19.1 per cent in the first quarter from a year ago, official data showed.

The rise, boosted by growth across all services sectors, especially financial and insurance services, was stronger than the fourth quarter's year-on-year expansion of 14.4 per cent, revised up from 14 percent.

Excluding financial and insurance services, business receipts rose 15.2 per cent from a year ago, the Department of Statistics said in a statement on Tuesday.

Compared to the previous quarter, Singapore's business receipts rose 0.9 per cent, weaker than a gain in the October-December period of 7.6 per cent, revised from 7.2 per cent. The figure is not adjusted for seasonal factors.

Singapore's services sector has grown rapidly in recent years helped by government efforts to promote tourism and wealth management as manufacturing jobs were lost to lower cost locations in China and Vietnam.

The business receipts index measures income earned by businesses in areas such as transport, telecommunications, medicine, real estate, finance and insurance. -- REUTERS