Quarterly Services Survey
Definition of 'Quarterly Services Survey '
A survey produced quarterly by the Census Bureau that provides estimates of total operating revenue and percentage of revenue by customer class for communication-, key information- and technology-related services firms (NAICS sectors 51, 54 and 56) and hospitals and nursing (NAICS subsectors 622 and 623). The quarterly services survey focuses on these areas because they fuel productivity, are growth areas and are sensitive to business-cycle changes, all of which are important for keeping a finger on the pulse of the economy.
Investopedia explains 'Quarterly Services Survey '
As of 2009, the information (NAICS sector 51), professional, scientific and technical services (54); administrative and support; waste management and remediation (56) sectors account for roughly 15% of the U.S. GDP. Because it accounts for a large portion of the economy and is sensitive to changes in productivity, growth and business cycles, the data from this report is important when trying to determine trends in the overall economy.
This data is also important for investors trying to determine trends in IT sectors directly, as this data can strongly affect market prices for companies in this area.