| Actual | Previous | |
|---|---|---|
| Selected Services Revenue - Q/Q | 1.6% | 1.6% |
| Selected Services Revenue - Y/Y | 7.4% | 7.5% |
| Information Revenue - Q/Q | 5.3% | 5.7% |
| Information Revenue - Y/Y | 5.4% | 5.6% |
Highlights
Selected services revenue in the fourth quarter, seasonally adjusted, is unrevised in the second estimate at quarterly growth of 1.6 percent. On a year-over-year basis, revenue expanded 7.4 percent, down 1 tenth from the first estimate.
Fourth-quarter information revenue, unadjusted, rose 5.5 percent in the second estimate (versus 5.3 percent in the first estimate) for 5.4 percent year-over-year growth; adjusted data for information revenue, available only in the second estimate, fell 1.2 percent on the quarter for annual growth of 5.4 percent, the same as the unadjusted rate.
For comparison, selected services revenue in the third quarter rose and adjusted 1.3 percent on the quarter for annual adjusted growth of 8.7 percent. Information revenue in the third quarter rose an adjusted 0.6 percent for annual adjusted growth of 8.0 percent.
Fourth-quarter information revenue, unadjusted, rose 5.5 percent in the second estimate (versus 5.3 percent in the first estimate) for 5.4 percent year-over-year growth; adjusted data for information revenue, available only in the second estimate, fell 1.2 percent on the quarter for annual growth of 5.4 percent, the same as the unadjusted rate.
For comparison, selected services revenue in the third quarter rose and adjusted 1.3 percent on the quarter for annual adjusted growth of 8.7 percent. Information revenue in the third quarter rose an adjusted 0.6 percent for annual adjusted growth of 8.0 percent.
Definition
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.
Description
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 (excluding retail and wholesale trade) account for nearly 55 percent of the nation's economic activity.
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 (excluding retail and wholesale trade) account for nearly 55 percent of the nation's economic activity.
