Texas service sector activity "continued to reflect expansion but at a slower pace in August than in July," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index fell to 6.5 from 10.3.
The employment index grew to 5.8 from 3.8, the part-time employment index decreased to 1.4 from 3.1, the hours worked index declined to 0.6 from 2.0, the wages and benefits index gained to 14.2 from 10.4, the input prices index climbed to 22.0 from 17.9, the selling prices index slid to 2.4 from 3.6, the capital expenditures index rose to 5.9 from 4.6, the general business activity index widened to negative 5.0 from negative 1.3.
The future revenue index fell to 33.3 from 35.9, the employment index dropped to 15.9 from 23.6, the part-time employment index gained to 8.4 from 6.8, the hours worked index decreased to negative 0.6 from positive 5.0, the wages and benefits index slid to 34.0 from 37.3, the input prices index climbed to 39.5 from 38.4, the selling prices index fell to 17.2 from 19.4, the capital expenditures index slid to 18.8 from 19.3, the general business activity index fell to 2.8 from 10.1.
