Census: Securities and Commodities Industry Revenue Down 36 Percent in 2008

by Sabrina I. Pacifici on December 16, 2009

News release: “Revenues for securities, commodity contracts and other financial investment activities decreased 36.1 percent in 2008, from $464 billion in 2007 to $297 billion in 2008, according to new data from the U.S. Census Bureau. The data tables, 2008 Service Annual Survey: Securities, Commodities, and other Financial Investments, provide national estimates of annual revenue and expenses for businesses with paid employees that provide financial services such as securities and commodity contracts, portfolio management and investment advice. This industry group is classified under the North American Industry Classification System as NAICS 523.
“The significant drop in revenue for activities associated with this segment of the financial sector followed closely on the heels of the recession that began in December 2007,” said Mark Wallace, chief of the Census Bureau’s Service Sector Statistics Division. “This survey shows which industries were the hardest hit and which were the more resilient.”

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