Definitions for service sector
ser·vice sec·tor

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1. service sector

   The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sectors in the three-sector model (also known as the economic cycle). The others are the primary sector (raw materials) and the secondary sector (manufacturing). The tertiary sector consists of the provision of services instead of end products. Services (also known as "intangible goods") include attention, advice, access, experience and affective labor. The production of information has been long regarded as a service, but some economists now attribute it to a fourth sector, called the quaternary sector. The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport, distribution and sale of goods from a producer to a consumer, as may happen in wholesaling and retailing, pest control or entertainment. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people by interacting with them and serving the customers rather than transforming the physical goods.

Editors ContributionRate this definition:2.0 / 2 votes

1. service sector

   A sector of an economy where businesses, companies, enterprises and organizations provide services and employment.

   The Service sector employment figures are released to the media to show their contribution and growth within an economy within a given time period.

   
   

   Submitted by MaryC on June 4, 2015  

How to pronounce service sector?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say service sector in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of service sector in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of service sector in Pythagorean Numerology is: 8

Examples of service sector in a Sentence

1. Goldman Sachs:

   The shale supply response would further remain modest initially, due to drilling times, still cautious producers and a tight service sector.

2. Frances Hudson:

   I don't think energy costs for many companies these days are a big enough proportion of their cost base, especially for tech and service sector shares.

3. Jesse Hurwitz:

   We do not expect the recent slowing to lead to a broader pullback in aggregate growth, as service sector activity remains solid.

4. David Cannington:

   We saw weakness in more U.S. durable goods, but one can track that directly to softness in manufacturing and oil, which is distinct from the strength across the service sector, nonetheless, it strengthens the hand of those pointing to the Fed doing less, and questions the case of the USD bulls.

5. Andrew Polk:

   Building the service sector always starts with huge fixed asset investment in China, you focus on tourism. You build amusement parks.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Service_Sector