Measures spending in the services sector of the economy. This sector consists of intangible goods such as public utilities, insurance, government, tourism, banking, retail, education, transportation, and social services.
It can serve as a key indicator for domestic economic activity. Strong spending in the services sector usually translates to higher employment rates and can also be interpreted as a sign of higher consumer spending in the future.
An uptrend in tertiary industry activity has a positive impact on the nation