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First Cut: Advance Quarterly Service Sector revenues up in fourth quarter

The advance quarterly report on service sector revenues totaled an unadjusted $4,182.9 billion for the fourth quarter after a revised $4,098.6 billion in the third, or up 2.1% quarter-over-quarter. The numbers followed a typical pattern of down in the first quarter and up in the second through fourth quarters.

There were gains for information (up 7.3%), finance and insurance (up 0.1%), professional services (up 2.2%), administration and waste (up 3.7%), education (up 5.2%), health and social services (up 3.9%), and other excluding public administration (up 19.6%). Service revenues were down quarter-over-quarter for utilities (down 5.0%), transportation and warehousing (down 1.6%), real estate (down 1.5%), arts and entertainment (down 3.3%), and accommodation (down 13.0%).

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