Revenues in key sectors of the US services industry grew in the second quarter, the government reported today.
The Commerce Department said revenues in information services rose 4.4 per cent to $230.09 billion in the April-to-June quarter from the previous three months, reversing a 5.2 per cent drop in the January-to-March quarter.
Broadcasting and telecommunications, the largest component of information services, grew 4.3 per cent in the second quarter with revenues of $127.93 billion. Publishing revenues increased 4.1 per cent to $61.01 billion.
Professional, scientific and technical services grew 6.3 per cent to $246.14 billion in the second quarter, compared with a 0.3 per cent fall the quarter before. Architectural and engineering services gained 12.9 per cent, helping to offset a 14.1 percent drop in accounting, bookkeeping and payrolls.
Administrative support and waste-management service revenues increased 5.6 percent to $121.89 billion, after a 1.2 per cent increase in the first quarter.
The services sector accounts for some 80 per cent of the US economy, but the new Quarterly Services Survey captures only about 15 per cent of gross domestic product. The Commerce Department has said it plans to add more categories to the report in coming years.