USA Wholesale Inventories
|Latest Release:||09-12-2014 15:00:00|
|Next Release:||25-10-2013 14:00:00|
|Source:||US Census Bureau|
The US service economy posted higher revenues in virtually every category in the second quarter, as healthcare spending rebounded following an unexpected decline in the first three months of the year.
Spending increased in the three main service sectors tracked by the quarterly monitor, the Census Bureau reported today in its Quarterly Services Survey. Revenues in the information sector increased 0.8 percent to $333.2 billion, which translated into an annual gain of 5.7 percent.
Professional, scientific, and technical services saw revenues rise 1.4 percent from the first quarter and 3.7 percent annually.
Spending on administrative and support and waste management and remediation services increased 1.9 percent from the first quarter. Year-on-year, this translated into a gain of 5.7 percent, official data showed.
Healthcare spending increased 3 percent to $565.6 billion in the April to June period, following a decline of 2 percent in the first three months of the year that resulted in a major overhaul of first quarter GDP estimates. Compared to the second quarter of 2013, healthcare and related spending was up 3.7 percent.
With the exception of utilities, all major services sectors reported higher revenues in the second quarter, official data showed.
The Quarterly Services Survey, or QSS for short, was launched in 2004 and is released approximately 75 days after the end of each economic quarter. It is used to re-calculate approximately 20 percent of the nationâs gross domestic product. It provides the only hard data on consumer spending and is...
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