Why does NAPCS initially focus on service industries?
Service industries now account for almost 70% of economic activity, over 85 million employees, and a disproportionate share of economic growth, yet there remains a significant imbalance with respect to the information available on services industries, the fastest growing segment of the New Economy, compared with the wealth of information available for manufacturing industries. If unaddressed, economic policymakers will be increasingly misinformed and misdirected about changes in the real economy, related to rates and sources of growth in output, prices, productivity, and trade. Moreover, this new services product information is critical to understanding some of the most hi-tech, dynamic, and rapidly growing areas of the service economy — information, communication, computer services, business services, and health. Presently, there exists no official body of information on the richness of products produced by such firms, what market groups they serve, and the important changes in produ
