U.S. adds service sector to tracked data; First new economic indicator in 40 years.(BUSINESS)

0 Comments | Washington Times, The, September, 2004

Byline: Jeffrey Sparshott, THE WASHINGTON TIMES The Bush administration next week plans to release newly created data on the service sector, the first new economic indicator from the U.S. Census Bureau in almost 40 years. Service companies produce the bulk of the nation's output but are poorly measured in government economic data.

The new quarterly survey will measure revenue from telecommunications, software publishing, employment services, media and other service industries, the Commerce Department said yesterday. "This is the first step on the road to building much better information on the service sector of our economy," said Kathleen Cooper, commerce undersecretary for economic affairs.. Service industries measured by the new census survey account...