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First Cut: Quarterly service sector revenue up 1.2% in 4Q 2018, up 6.7% year-over-year

Quarterly data on service sector revenues were up 1.2% quarter-over-quarter seasonally adjusted in the fourth quarter 2018, a slowing from the 1.8% in the third quarter, 1.6% in the second quarter, and 1.5% in the first quarter. Of note in the fourth quarter was the 2.4% increase in transportation and warehousing where on-line shopping helped push the revenues for courier and messenger services up 2.7%.

Unadjusted, service sector revenues were up 6.3% compared to a year earlier. This was a solid increase. While it didn’t quite match up to the 6.7% year-over-year rise in the third quarter, it is still the third highest year-over-year gain for the series’ short time frame.

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