service sector


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service sector

that part of the economy concerned with the provision of a wide variety of personal and business services: hairdressing and tourism, transport and retailing, banking and insurance, etc. The service sector together with the PRIMARY SECTOR and INDUSTRIAL SECTOR form an interlocking chain of economic activities that constitutes a modern economy.

See STRUCTURE OF INDUSTRY.

References in periodicals archive ?
1 trillion rials to the service sector during the 7-month period.
Though growing attention is being paid to services related to ICT, there are many other more conventional services such as tourism, transportation, retail and wholesale, and it is difficult to define the overall implications of the service sector for the economy, as each of these services has its own unique implications.
In most of the states, the service sector has a significant share in the Gross Domestic Product (GDP), offering career opportunities to the citizens, and also offers inputs and public services for the economic growth and prosperity.
THE pace of business volumes growth in the business and professional service sector has slowed but remained stable in consumer services, research from employers' body the CBI shows.
M2 EQUITYBITES-August 30, 2016-UK service sector sees slower growth, drop in optimism
Chris Williamson, chief economist at Markit, said: "Worries about a Chinese 'hard landing',' higher interest rates in the US, more austerity at home and EU tensions have collectively pushed the business mood in the dominant service sector to its darkest for three years.
I think that if we talk about creating jobs, the service sector creates multiplicative number of jobs much more quickly.
SERVICE sector firms are feeling bullish about their prospects following a second successive quarter of solid growth in activity, according to the CBI's quarterly Service Sector Survey.
SERVICE sector firms feel bullish about their prospects following a second successive quarter of solid growth in activity, according to the CBI's quarterly Service Sector Survey.
He said that RCCI is preparing a research paper to underscore benefit of service sector and it will be shared with government soon.
They only attract 'low-quality' service sector jobs because of their lack of a substantial manufacturing sector, according to Rhee.
KUWAIT, May 27 (KUNA) -- Kuwaiti Minister of Commerce and Industry Anas Al-Saleh said here Sunday the service sector, which is a major component of Kuwait's economic system, still enjoys financial safety in spite of political, economic and financial challenges.

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