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Economy in Brief

U.S. Quarterly Services Survey Produces Varying Results
by Tom Moeller  June 10, 2015

The Quarterly Services Survey is produced by the U.S. Census Bureau. It samples approximately 5,000 service businesses with paid employees. For Q1 2015, it indicated that Hospitals revenue grew 9.2% y/y, the largest gain amongst the broad categories in the tally. Revenue growth here was three times growth in the slowest grouping. It was followed by a 6.8% rise in revenues for Administrative & Support services. That was driven by an 8.9% gain in the Employment category which followed a 13.0% increase during all of 2014.

Revenues to support Professional, Scientific & Technical services increased 5.6%, up from gains of 4.1% and 2.0% in 2014 and 2013, respectively. Leading the growth in this category were the Accounting, Tax Preparation, Bookkeeping & Payroll work with a 9.1% rise over the last four quarters. That followed a 10.1% rise during all of last year. Revenues for the Information grouping increased a lessened 3.0%, although a 7.2% rise was realized by Software Publishers.

The QSS data can be found in Haver's USECON database.

Quarterly Revenue for Service Firms (QSS) Y/Y % Q1'15 Q4'14 Q3'14 2014 2013 2012
Hospitals 9.2 5.7 5.7 4.6 3.6 5.9
Administrative & Support 6.8 8.4 7.9 9.3 4.0 5.0
   Employment 8.9 9.1 9.6 13.0 5.4 7.5
   Other Administrative & Support 8.6 9.1 8.1 8.6 3.3 4.4
   Waste Management -5.2 2.9 3.1 3.7 2.0 0.6
Professional, Scientific & Technical 5.6 4.8 5.0 4.1 2.0 4.0
   Legal 3.3 -0.9 2.5 1.3 -1.2 1.6
   Accounting, Tax Preparation, Bookkeeping & Payroll 9.1 9.7 10.7 10.1 5.0 7.7
Information 3.0 4.4 4.7 5.2 3.4 4.2
   Software Publishers 7.2 7.0 10.3 7.9 6.9 2.6
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