Professional Services: United States

This report forecasts to 2023 personal consumption expenditures (PCE) on professional services in nominal US dollars. Expenditures are segmented by service type in terms of: portfolio management and investment advice; legal; banking; securities trading; tax preparation and accounting; and other services such as employment placement, printing, and private parcel mail.

To illustrate historical trends, total PCE, the various segments, and price indexes by segment are provided in annual series from 2008 to 2018.

The scope of this report encompasses fees and service charges paid by consumers for professional services. Also included are the fees paid by third parties on behalf of consumers (e.g., fees for retirement plans paid by employers). Spending on interest is excluded. Also excluded is the value of financial services furnished without payment (e.g., free checking accounts).

PCE data include spending by nonprofit institutions serving households (e.g., the value of education services provided by nonprofit colleges or medical care provided by nonprofit hospitals). Consequently, the spending by such parties on portfolio management fees, banking, legal, and other professional services is included.

Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.

Related NAICS Codes:
522110 Commercial Banking
522120 Saving Institutions
522130 Credit Unions
522210 Credit Card Issuing
522291 Consumer Lending
523120 Securities Brokerage
523920 Portfolio Management
523930 Investment Advice
541110 Offices of Lawyers
541191 Title Abstract and Settlement Offices
541213 Tax Preparation Services
561311 Employment Placement Agencies
561320 Temporary Help Services

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