jeudi 12 mars 2015
A Little-Watched Report Is Boosting Estimates for U.S. Economic Growth in Late 2014
Posted on 07:07 by nice news
Stronger-than-expected consumer spending on services is boosting estimates for U.S. economic growth in the final months of 2014.
Revenue at health-care and social-assistance companies climbed 4.2% in the fourth quarter from the prior three months, up sharply from the third quarter’s 0.3% growth, the Commerce Department said Wednesday in its Quarterly Services Survey. The data weren’t adjusted for seasonal variations or price changes.
From a year earlier, health-care revenues climbed 5.4% in the fourth quarter, accelerating from 4.8% annual growth in the third quarter.
Other service-providing sectors, however, saw more mixed growth in the final months of 2014. Finance and insurance firms saw revenue rise just 0.8% from the third quarter, down from 2.3%, and annual growth slowed to 5.2% in the fourth quarter from 8.2% in the third quarter. Annual revenue growth also decelerated slightly in the information sector and at professional, scientific and technical services firms.
The data will be incorporated into the Commerce Department’s next estimate for gross domestic product, the broadest measure of output across the U.S. economy. The agency’s last estimate pegged growth during the fourth quarter at a 2.2% seasonally adjusted annual rate. A new reading will be released March 27.
Revenue at health-care and social-assistance companies climbed 4.2% in the fourth quarter from the prior three months, up sharply from the third quarter’s 0.3% growth, the Commerce Department said Wednesday in its Quarterly Services Survey. The data weren’t adjusted for seasonal variations or price changes.
From a year earlier, health-care revenues climbed 5.4% in the fourth quarter, accelerating from 4.8% annual growth in the third quarter.
Other service-providing sectors, however, saw more mixed growth in the final months of 2014. Finance and insurance firms saw revenue rise just 0.8% from the third quarter, down from 2.3%, and annual growth slowed to 5.2% in the fourth quarter from 8.2% in the third quarter. Annual revenue growth also decelerated slightly in the information sector and at professional, scientific and technical services firms.
The data will be incorporated into the Commerce Department’s next estimate for gross domestic product, the broadest measure of output across the U.S. economy. The agency’s last estimate pegged growth during the fourth quarter at a 2.2% seasonally adjusted annual rate. A new reading will be released March 27.
A Little-Watched Report Is Boosting Estimates for U.S. Economic Growth in Late 2014
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