U.S. services revenue to rise 6.1% in fourth quarter

Revenue for U.S. selected services is expected to rise 6.1% to $3.61 trillion in the fourth quarter of 2016, from $3.40 trillion in the same period in 2015, according to the U.S. Census Bureau’s Advance Quarterly Services Report. This is the first time the Census Bureau has released a report providing estimates on U.S. services in advance of the Quarterly Services Report. The fourth-quarter report is scheduled for release March 9.

In the fourth quarter of 2016, utilities revenue is projected to rise 5.6% to $140.96 billion, from $133.47 billion in the fourth quarter of 2015. Transportation and warehousing revenue should increase 2.2% to $224.25 billion, from $219.50 billion. Information revenue should jump 4.3% to $391.34 billion, from $375.23 billion. Finance and insurance revenue looks to jump 5.3% to $1.09 trillion, from $1.03 trillion. Real estate and rental and leasing sales are expected to rise 8.1% to $169.41 billion, from $156.64 billion.

Revenue for professional, scientific and technical services should increase 6.2% to $449.45 billion, from $423.02 billion. Revenue for administrative and support and waste management and remediation services is projected to rise 8.6% to $226.88 billion, from $208.86 billion. Educational services revenue is set to increase 4.7% to $16.17 billion, from $15.44 billion. Healthcare and social assistance revenue looks to increase 7% to $630.53 billion, from $589.47 billion. Arts, entertainment and recreation is expected to rise 10.1% to $67.73 billion, from $61.49 billion. Accommodation revenue should increase 5.4% to $58.56 billion, from $55.58 billion. Revenue for other services, excluding public administration, is projected to rise 11.9% to $151.20 billion, from $135.15 billion.