A quarterly look at the services sector in the U.S. revealed gains in each of the areas surveyed. Also, revisions in the U.S. Census Bureau report for Q1 data were mostly upward.
Figures are not adjusted for seasonal variation or price changes.
Information sector revenue moved up 2.5% in the quarter to $284.9 billion. Compared to one year ago, revenue has posted a 2.4% gain. The Q1 advance was upwardly revised to a 4.6% loss from the 4.7% decrease originally reported.
Professional, scientific, and technical services revenue saw an advance of 4.2% in the quarter to $319.3 billion, contributing to a 6.1% advance over the year. The Q1 change was upwardly revised to a 2.5% loss from the 3.1% loss originally reported.
Revenue for administrative and support services, waste management, and remediation services posted a 2.1% gain to $135.3 billion in the quarter, marking a 3.0% gain in the year. The Q1 change was downwardly revised to a 0.2% decrease from an originally reported gain of 0.2%.
Revenue for hospitals, nursing, and residential care facilities posted a 0.7% gain in the quarter to $229.8 billion, contributing to a 7.2% annual gain.
Third quarter 2008 revenue is scheduled to be released on December 11, 2008.
By Patrick McGee and edited by Sarah Sussman
©CEP News Ltd. 2008