Texas service sector activity “increased in April, albeit at a slower pace than in March,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index slid to 12.1 from 15.2.

The employment index dropped to 4.5 from 8.1, the part-time employment index decreased to 3.0 from 4.1, the hours worked index slid to 3.5 from 6.5, the wages and benefits index declined to 15.5 from 15.7, the input prices index rose to 26.9 from 19.7, the selling prices index climbed to 7.2 from 3.1, the capital expenditures index rose to 13.2 from 11.3, the general business activity index decreased to 9.0 from 13.2.

The future revenue index dipped to 47.3 from 47.8, the employment index fell to 24.5 from 26.6, the part-time employment index dropped to 8.9 from 12.5, the hours worked index increased to 11.6 from 8.3, the wages and benefits index grew to 42.3 from 38.5, the input prices index increased to 46.5 from 42.3, the selling prices index dropped to 25.0 from 27.6, the capital expenditures index rose to 27.0 from 25.1, the general business activity index slumped to 20.6 from 22.3.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.