Preliminary data suggests total revenue amounted to US$4.10 trillion, a rise of 4.6%

The U.S. Census Bureau has released its selected services forecast for the fourth quarter of 2020, whereby as a result of recent developments involving COVID-19, many companies are operating at reduced capacity or have entirely suspended operations.

The latest data shows that for the fourth quarter of 2020, U.S. selected services total revenue is estimated at US$4.10 trillion, representing a rise of 4.6 per cent from the third quarter of 2020 and a decrease of 0.6 per cent 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 per cent.

For the fourth quarter of 2020, the U.S. Census Bureau reports that utilities revenue stood at US$147.1 billion, down 1.3 per cent from the third quarter of 2020 and down 2.2 per cent 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 per cent.

Transportation and warehousing

The Census Bureau reports that U.S. transportation and warehousing revenue for the fourth quarter of 2020 was estimated at US$237.4 billion, an increase of 7.4 per cent from the third quarter of 2020 and down 12.8 per cent from the fourth quarter of 2019. The second quarter of 2020 to third quarter of 2020 percentage change was revised from 13.3 per cent.

For the fourth quarter of 2020, the U.S. information sector revenue was assessed at US$481.7 billion. This was an increase of 4.8 per cent from the third quarter of 2020 and up 7.1 per cent from the fourth quarter of 2019.

The second quarter of 2020 to third quarter of 2020 percentage change experienced a revision from 6.1 per cent to 6.0 per cent.

Finance and insurance

U.S. finance and insurance revenue for the fourth quarter of 2020 amounted to US$1.23 trillion, a rise of 2.1 per cent from the third quarter of 2020 and up 0.9 per cent 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 per cent.

The U.S. real estate and rental and leasing revenue for the fourth quarter of 2020 totalled US$189.8 billion, a growth of 5.5 per cent from the third quarter of 2020 and a decline of 1.0 per cent from the fourth quarter of 2019, according to the U.S. Census Bureau.

The second quarter of 2020 to the third quarter of 2020 has been updated from 15.1 per cent.

Professional, scientific, and technical services

U.S. professional, scientific, and technical services revenue for the fourth quarter of 2020 was US$513.6 billion, an increase of 4.1 per cent from the third quarter of 2020 and down 2.3 per cent from the fourth quarter of 2019. The second quarter of 2020 to third quarter of 2020 percentage change was revised from 4.9 per cent to 4.8 per cent.