By Fiona Chan

SINGAPORE'S key service sector shrank again in the first three months of the year, as the global recession took its toll on the economy.

Companies' business receipts fell by 2.3 per cent in the first quarter of this year over the same period last year, according to the quarterly Business Receipts Index released by the Department of Statistics yesterday (DOS).

They also fell on a quarter-on-quarter basis, which is a better reflection of recent trends. Business receipts were down 3.3 per cent compared to the fourth quarter of last year, after falling 1.3 per cent in the previous quarter.

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