what is the service sector 
the service sector produces intangible goods more precisely services instead of goods and according to the u s census bureau it comprises various service industries including warehousing and transportation services information services securities and other investment services professional services waste management health care and social assistance and arts entertainment and recreation 1 countries with economies centered around the service sector are considered more advanced than industrial or agricultural economies understanding service sectorthe service sector also known as the tertiary sector is the third tier in the three sector economy instead of product production this sector produces services maintenance and repairs training or consulting examples of service sector jobs include housekeeping tours nursing and teaching by contrast individuals employed in the industrial or manufacturing sectors produce tangible goods such as cars clothes or equipment among the countries that place heavy emphasis on the service sector the united states the united kingdom australia and china rank among the top in the united states the institute for supply management ism produces a monthly index that details the general state of business activity in the service sector this index is regarded as a metric for the overall economic health of the country because approximately two thirds of u s economic activity occurs in the service sector 2the service sector in the three part economythe service or tertiary sector is the third piece of a three part economy the first economic sector the primary sector covers the farming mining and agricultural business activities in the economy the secondary sector covers manufacturing and business activities that facilitate the production of tangible goods from the raw materials produced by the primary sector the service sector though classified as the third economic sector is responsible for the largest portion of the global economy s business activity technology in the service industrytechnology specifically information technology systems is shaping the way businesses in the service sector operate businesses in this sector are rapidly placing more focus on what is becoming known as the knowledge economy or the ability to surpass competitors by understanding what target customers want and need and operate in a way that meets those wants and needs quickly with minimal cost in nearly all industries within the sector businesses adopt new technology to bolster production increase speed and efficiency and cut down on the number of employees required for operation this cuts down on costs and improves incoming revenue streams 