FOR IMMEDIATE RELEASE
                  WEDNESDAY, JANUARY 15, 2003
                                
                                
Patricia Buscher                                                  CB03-13
Public Information Office
(301) 763-3030/457-3670 (fax)                               
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e-mail: pio@census.gov                         Quotes and radio sound bites

         Revenues from Financial Services Down in 2001
                                
  Securities and commodity underwriters, dealers and brokers reported
revenues totaling $201 billion in 2001, a decline of 16 percent from the
previous year, the Commerce Department's Census Bureau said today.

     Within the financial services sector, revenues of securities
brokerages declined 18 percent to $92 billion in 2001 and revenues of
investment banking and securities-dealing declined 15 percent to $104
billion in 2001.

  Among the largest declines in revenue sources for employer firms
providing securities and commodity contracts intermediation and brokerage
services were commissions from the sale of securities and commodities,
which declined 19 percent to $52 billion, and securities trading accounts,
which declined 26 percent to $25 billion.
   
  The estimates are from the 2001 Service Annual Survey - Securities and
Commodity Contracts Intermediation and Brokerage Services. Employer
estimates for portfolio management firms and investment advisory firms
also are included in the tabulations.
  
  Excluded from the tabulations are data on securities and commodity
exchanges; monetary authorities of central banks; credit intermediation
and related activities; insurance carriers and related activities; and
funds, trusts and other financial vehicles.

  The data are subject to sampling variability and nonsampling error.
Sources of nonsampling error include errors of response, nonreporting and
coverage. Measures of sampling variability, presented as relative standard
errors, are shown in selected tables of the product.