Texas service sector activity “growth softened in March,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index dropped to 12.8, from 19.2.
The employment index grew to 10.9 from 9.7, the part-time employment index increased to 2.0 from 1.7, the hours worked index grew to 5.7 from 5.0, the wages and benefits index climbed to 22.0 from 19.1, the input prices index rose to 25.1 from 20.61, the selling prices index grew to 11.2 from 8.0, the capital expenditures index rose to 16.5 from 10.5, the general business activity index reversed to negative 4.4 from positive 2.0.
The future revenue index rose to 43.7 from 39.2, the employment index climbed to 25.0 from 23.7, the part-time employment index decreased to 6.4 from 8.9, the hours worked index fell to 7.1 from 9.6, the wages and benefits index increased to 43.8 from 42.4, the input prices index gained to 43.9 from 41.6, the selling prices index rose to 31.9 from 29.2, the capital expenditures index dropped to 22.3 from 27.7, the general business activity index fell to 7.6 from 11.0.
