March 15, 2021
As a result of recent developments involving COVID-19, many companies are operating at reduced capacity or have entirely suspended operations. The U.S. Census Bureau has released the following selected services forecasts for the fourth quarter of 2020:
Selected Services Total
For the fourth quarter of 2020, U.S. selected services total revenue adjusted for seasonal variation but not for price changes, amounted to $4,106.5 billion, a rise of 4.6% (± 0.4%) from the third quarter of 2020 and a decrease of 0.6% (± 0.4%) from the fourth quarter of 2019. The percentage shift for the third quarter of 2020 to the fourth quarter of 2020 was changed from an advance forecast of 4.3% (± 0.4%).
Utilities
For the fourth quarter of 2020, U.S. utilities revenue, adjusted for seasonal variation but not for price changes, stood at $147.1 billion, down 1.3% (± 2.5%) from the third quarter of 2020 and down 2.2% (± 0.8%) from the fourth quarter of 2019. The percentage change from the second quarter of 2020 to third quarter of 2020 was revised from 4.3% (± 3.2%) to 4.8% (± 3.2%).
Transportation and warehousing
The Census Bureau also noted that, “U.S. transportation and warehousing revenue for the fourth quarter of 2020, adjusted for seasonal variation but not for price changes, was $237.4 billion, an increase of 7.4% (± 2.7%) from the third quarter of 2020 and down 12.8% (± 2.8%) from the fourth quarter of 2019. The second quarter of 2020 to third quarter of 2020 percentage change was revised from 13.3% (± 0.6%) to 15.3% (± 2.1%).”
Information
For the fourth quarter of 2020, the U.S. information sector revenue totalled $481.7 billion, adjusted for seasonal variation but not for price changes. This was an increase of 4.8% (± 0.8%) from the third quarter of 2020 and up 7.1% (± 1.5%) from the fourth quarter of 2019. The second quarter of 2020 to third quarter of 2020 percentage change experienced a revision from 6.1% (± 0.8%) to 6.0% (± 0.8%).
Finance and insurance
U.S. finance and insurance revenue for the fourth quarter of 2020, not adjusted for seasonal variation, or price changes, amounted to $1,238.1 billion, a rise of 2.1% (± 0.4%) from the third quarter of 2020 and up 0.9% (± 1.1%)* from the fourth quarter of 2019. The percentage shift for the third quarter of 2020 to the fourth quarter of 2020 was changed from an advance forecast of 1.2% (± 0.4%).
Real estate and rental and leasing
On an adjusted for seasonal variation but not for price changes basis, the U.S. real estate and rental and leasing revenue for the fourth quarter of 2020 totalled $189.8 billion, a growth of 5.5% (± 0.9%) from the third quarter of 2020 and a decline of 1.0% (± 1.3%) from the fourth quarter of 2019. The second quarter of 2020 to the third quarter of 2020 has been updated from 15.1% (± 1.5%) to 15.7% (± 1.3%).
Professional, scientific, and technical services
It was noted that, “U.S. professional, scientific, and technical services revenue for the fourth quarter of 2020, adjusted for seasonal variation but not for price changes, was $513.6 billion, an increase of 4.1% (± 0.9%) from the third quarter of 2020 and down 2.3% (± 1.7%) from the fourth quarter of 2019. The second quarter of 2020 to third quarter of 2020 percentage change was revised from 4.9% (± 0.9%) to 4.8% (± 1.1%),” as per the Census Bureau.
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