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Service industries show revenue gain

United Press International

Ten of 11 service sector industries showed revenue growth from 2010 to 2011, the U.S. Census Bureau reported Tuesday.

The exception for revenue growth noted in the 2011 Service Annual Survey was in the finance and insurance sector where revenue declined by $35 billion to $3.3 trillion year-to-year, the report said.

Within the finance sector, the report said investment banking and securities posted $135 billion in revenue for 2011, down 13.1 percent from the $155.9 billion in revenue for 2010.

Despite the slow economic recovery, even real estate and rental and leasing as a group experienced a 5 percent year-to-year revenue increase from $406.4 billion to $426.8 billion.

The sharpest revenue jump came in the information sector. Within that group, revenue for Internet publishing and broadcasting and Web search portals rose 20.8 percent from $41.7 billion in 2010 to 50.4 billion in 2011, the bureau said.

Among the highlights, utilities experienced a revenue climb of 3.4 percent to $550.2 billion, transportation and warehousing experienced a bump of 11.1 percent to $736.3 billion, wireless telecommunication carriers saw their revenue climb 6.9 percent to $208.9 billion, and educational services experienced a 5.9 percent revenue gain to $59.2 billion.

Copyright:Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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