Global| Jun 10 2015U.S. Quarterly Services Survey Produces Varying Results
by:Tom Moeller
|in:Economy in Brief
Summary
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 [...]
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 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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