Service sector growth increases 7.04% in 2024

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Growth in the service sector tends to increase consistently between quarters of the year, peaking in the fourth quarter. The first quarter climbed by 4.41%; the second quarter increased by 6.55%; the third quarter increased by 6.55%; and the fourth quarter had the greatest growth rate at 10.29%.

Transportation and warehousing increased by 15.65%; administrative and support services climbed by 12.43%; real estate commercial operations increased by 11.49%; and arts, leisure, and recreation increased by 9.38%. There are two industries experiencing negative growth: Accommodation and food services; other service activities.