US: Quarterly Services Survey

Wed Mar 11 09:00:00 CDT 2015

Actual Previous Revised
Information Revenue - Q/Q change 1.4% 1.0% 0.8%
Information Revenue - Y/Y change 4.5% 5.0% 4.8%

Information revenue rose 1.4 percent in the fourth quarter compared to the third quarter. This compares with downwardly revised sequential growth of 0.8 percent in the fourth quarter (1.0 percent originally). Year-on-year, information revenue rose 4.5 percent in the fourth quarter vs downwardly revised year-on-year growth of 4.8 percent in the third quarter (5.0 percent originally).

The Census Bureau quarterly services survey focuses on information and technology-related service industries. These include information; professional, scientific and technical services; administrative & support services; and waste management and remediation services. These sectors correspond to three NAICS sectors (51, 54, and 56). The Quarterly Services Survey produces estimates of total operating revenue and the percentage of revenue by class of customer.

These sectors fuel productivity gains and they include growth areas as well as industries sensitive to changes in the business cycle. These include four broad categories: (1) information industries; (2) professional, scientific, and technical services, (3) administrative and support and waste management and remediation services, (4) hospitals and nursing and residential care facilities.

The service sector is an important part of the economy but until the publication of the Quarterly Services Survey, information regarding the service sector had been even more scarce. The Commerce Department began publishing this report in September 2004. According to the Census Bureau, service industries account for nearly 55 percent of the nation's economic activity.