Texas service sector activity "continued to reflect expansion in May," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index slid to 5.8 from 10.6.
The employment index fell to 4.5 from 6.3, the part-time employment index remained at 1.6, the hours worked index dropped to negative 1.3 from positive 2.5, the wages and benefits index slipped to 14.7 from 16.9, the input prices index decreased to 19.9 from 21.0, the selling prices index declined to 4.4 from 6.5, the capital expenditures index fell to 9.5 from 11.1, the general business activity index widened to negative 7.1 from negative 3.7.
The future revenue index slipped to 33.5 from 41.5, the employment index fell to 18.7 from 19.0, the part-time employment index declined to 6.6 from 7.0, the hours worked index dropped to 1.5 from 6.2, the wages and benefits index rose to 37.0 from 36.7, the input prices index gained to 37.6 from 37.4, the selling prices index slid to 19.8 from 22.8, the capital expenditures index grew to 23.6 from 17.6, the general business activity index declined to 1.3 from 2.3.
