March 3, 2017
Texas’ service sector in February 2017 continued expanding, though more slowly, according to business executives responding to the Federal Reserve of Dallas’ Texas Service Outlook Survey. February’s revenue index was 14.1 in February, a 2-point drop from January. The revenue index is a key measure of state service sector conditions, and the Dallas Fed surmised that some economic uncertainty might be the cause.
The service sector labor market indicators, in the meantime, rose slightly from 4.8 to 5.9, month over month, and the hours worked index also moved up 2 points to 6.9. Perceptions of broader economic conditions were less optimistic, with the general business activity index falling from 21.2 to 15.6. The index of future general business activity also moved down to 31.5, from 36.2 in January.
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