Services Indicator Adds New Seasonally Adjusted Series

The U.S. Census Bureau recently released fourth quarter 2018 data for the Quarterly Services Survey (QSS). As part of this release, the Census Bureau expanded the number of seasonally adjusted revenue series included in the report. This is the first introduction of new seasonally adjusted series to the Quarterly Services Report in six years. 

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This expansion more-than-tripled the number of seasonally adjusted series QSS publishes, from 12 to 38. Notably, QSS now publishes a seasonally adjusted Selected Services Total.

In addition to the Selected Services Total, the sectors that have new seasonally adjusted estimates are:

• 22 - Utilities
• 48-49 - Transportation and warehousing
• 51 - Information
• 54 - Professional, scientific, and technical services

Seasonal adjustment is important because industries that exhibit seasonal patterns can mask underlying economic conditions. Seasonal adjustment produces data in which the values of neighboring quarters are usually easier to compare.  Many data users prefer seasonally adjusted data because they want to see those characteristics that seasonal movements tend to mask, especially changes in the direction of the series.

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