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US: Quarterly Services Survey
Market Consensus Before Announcement
Revenue for total selected services is up 0.8 percent in the fourth quarter 2025 from the third quarter to $5,708.4 billion, a slowing from the increase of 2.4 percent in the third quarter from the second quarter $5,777.4 billion. Revenue is up 6.7 percent compared to the fourth quarter 2024. Increases across categories are mixed although the two largest industries see higher revenues.
Revenue for information services is up 2.2 percent in the fourth quarter from the third quarter to $611.2 billion, rising from up 0.9 percent increase in the third quarter to $615.0 billion. Compared to the fourth quarter 2024, information services revenue is up 7.9 percent. Information services revenue accounts for 10.7 percent of the total.
Revenue for professional and business services is up 0.4 percent to $740.1 billion in the fourth quarter 2024 from the third quarter after rising 3.4 percent to $752.5 billion in the third quarter from the second quarter. It is up 5.9 percent from the fourth quarter 2024. Total professional and business services revenue accounts for 13.0 percent of the total.
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.