Miscellaneous professional, scientific, and technical services
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Miscellaneous professional, scientific, and technical services industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
This industry comprises establishments primarily engaged in providing services, such as auditing of accounting records, designing accounting systems, preparing financial statements, developing budgets, preparing tax returns, processing payrolls, bookkeeping, and billing.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had decreased 0.4 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry decreased 2.5 percent.
- Prices decreased 2 percent in the five year period starting in January 2015 and ending in January 2020.
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- As of January 2020, costs in this industry had 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry increased 0.4 percent.
- Costs increased 7.9 percent in the five year period starting in January 2015 and ending in January 2020.
For details on which industries are included in each sector, click here
- The largest cost for this industry is purchases made to the Labor sector. This sector accounts for 51.2% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Real Estate and Rental and Leasing sector. Costs associated with this sector increased 2.5%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Labor | 51.2% | +1% |
| Professional, Scientific, and Technical Services | 13.9% | -0.9% |
| Manufacturing | 7.8% | +0.1% |
| Real Estate and Rental and Leasing | 6.1% | +2.5% |
| Administrative and Support and Waste Management and Remediation Services | 5.6% | -0.7% |
To download this data, or to learn more about how demand for this industry is measured, please contact us.
- As of July 2019, demand for this industry had increased 5.3 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 17.8 percent.
- Costs increased 34.1 percent in the five year period starting in July 2014 and ending in July 2019.
For details on which industries are included in each sector, click here
- The sector that contributes the most to this industry's demand is the Private fixed investment sector. This sector accounts for 27.2% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Government sector, where demand increased 46.4%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Private fixed investment | 27.2% | +46.4% |
| Exports | 8.3% | +46.4% |
| Government | 8.1% | +46.4% |
| Professional, Scientific, and Technical Services | 6.9% | +3.7% |
| Wholesale Trade | 5.9% | -0.5% |
- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU5416--5416--.
- Costs measured from January 2020
- Demand measured from July 2019
