WASHINGTON, Nov. 22, 2016 /PRNewswire-USNewswire/ -- Between 2014 and 2015, 10 of the nation's 11 service sectors saw increases in revenue, according to statistics from the U.S. Census Bureau's 2015 Service Annual Survey. The utilities sector was the only sector to show a decrease in revenue, declining by 4.7 percent in 2015.
A majority of the 10 sectors that demonstrated increases in revenue in 2015 did so at annual growth rates that were smaller than those observed in 2014. This trend occurred most notably in the transportation and warehousing sector, which grew 1.9 percent to $959.0 billion. On the other hand, revenue growth generated by businesses in the health care and social assistance sector accelerated in 2015, compared to 2014, increasing 5.6 percent to $2.4 trillion.
The Service Annual Survey provides statistics on revenue, payroll and expenses for companies whose primary business or operation is to provide services to individuals, businesses and governments. Survey data is available at the sector, subsector and industry group level, and dates back to 1982 as an annual survey. It was last expanded in 2009 to include approximately 150 additional service industries and now accounts for approximately 70.0 percent of the U.S. Gross Domestic Product (GDP).
Other highlights from selected sectors (all data are for employer businesses):
Finance and Insurance
- Direct life, health and medical insurance carriers' revenue increased 6.2 percent to $1.4 trillion. This reflected a slowdown from 2014 when revenue for these businesses increased 10.6 percent.
- Revenue earned by mortgage and nonmortgage loan brokers' firms increased 31.5 percent to $9.5 billion in 2015, after decreasing 10.7 percent in 2014.
Health Care and Social Assistance
- Private, general medical and surgical hospitals revenue increased 6.5 percent to $760.1 billion.
- Revenue for offices of physicians (except mental health specialists) increased 5.8 percent to $443.0 billion.
Administrative and Support and Waste Management and Remediation Services
- Revenue earned by professional employer organizations, which provide human resources and human resource management services to client businesses, increased 7.8 percent to $146.5 billion, after increasing 23.3 percent in 2014.
- Revenue earned by temporary help services employers increased 12.3 percent to $153.5 billion.
Real Estate and Rental and Leasing
- Revenue for offices of real estate agents and brokers increased 10.3 percent in 2015 to $92.9 billion after increasing 10.9 percent in 2014.
- Internet publishing and broadcasting and web search portals employer revenue increased 15.0 percent to $125.9 billion after rising 12.9 percent in 2014.
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Percentage changes quoted in the release are calculated using estimates rounded to millions as provided in the tables. Also, note that estimates are not adjusted for price changes.
As is the case with all surveys, statistics from sample surveys are subject to sampling and nonsampling error. All comparisons made in this release have been tested and found to be statistically significant at the 90 percent confidence level, unless otherwise noted. Please consult the tables for measures of sampling variability. For more information about the Service Annual Survey, including information on confidentiality protection, sampling error, nonsampling error and definitions, see www.census.gov/services/sas/sastechdoc.html.
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SOURCE U.S. Census Bureau