Shopper and Clerk

March 3, 2017 Comments Off on Texas Service Sector Activity Expands, But Slowly Views: 204 Texas News, Top Texas

Texas Service Sector Activity Expands, But Slowly

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.

Read More at Federal Reserve Bank of Dallas

Subscribe to Connect Daily Texas

For comments, questions or concerns, please contact Amy Sorter

For advertising information, please contact Joni Margotta

Tags: ,

Comments are closed.