Aubyn Curtiss For U.S. Senate Committee issued the following announcement on Sept 26.
Revenue for scientific research and development services across the U.S. was $46.2 billion for the 1st quarter of 2019, according to a U.S. Census Bureau report which was released in June.
Overall, U.S. service sector businesses surveyed by the bureau for its Quarterly Services Survey (QSS) reported $4 trillion in revenue during that same time period.
The QSS includes data gathered from approximately 5,000 businesses operating in the following service sectors: information; professional, scientific and technical; administrative and support, waste management, and remediation services; and nursing and residential care facilities.
Survey results, which are released 75 calendar days after each quarter ends, include estimates for total operating revenue and the percent of revenue by class of customer. These customer classes include government, business, consumers, individuals and tax-exempt firms.
Total amounts are adjusted for seasonal variation but not for price changes.
The information is used as an economic indicator by the U.S. Bureau of Economic Analysis, which produces gross domestic product (GDP) by industry estimates; the Federal Reserve Board; the Centers for Medicare and Medicaid Services; and the Council of Economic Advisors.
In addition to this quarterly service data, the Census Bureau releases an Advance Quarterly Service Report, approximately 50 calendar days after each quarter ends. The data in this report are not seasonally adjusted, but is considered an early indicator of how the U.S. service economy is performing.
Original source here.
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