The financial services sector is proving to be a detractor from Australia's economic growth, reversing a period of being an above-average contributor.National accounts published yesterday by the Australian Bureau of Statistics show that the finance and insurance sector produced a lower gross operating surplus, or profit, for three quarters in a row in the September 2008 quarter (and on a seasonally adjusted basis). Finance profits also declined for three quarters in a row on a trend basis.Finance profits, along with mining profits, had been a key driver of the escalating profit share of national income over recent years. And while mining profits continued to shine in the latest national accounts they may also now be in reverse.The ABS estimated finance profits at $7.5 billion in the September 2008 quarter, down from a peak of $8.2 billion in the December 2007 quarter. Finance profits represent 10 per cent of company profits and 2.5 per cent of GDP.