Texas service sector activity "continued to reflect expansion in January albeit at a slower pace," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index slid to 16.2 from 21.3.
The employment index dropped to 4.8 from 6.9, the part-time employment index increased to 2.9 from 0.8, the hours worked index improved to 4.8 from 4.5, the wages and benefits index slipped to 17.7 from 18.5, the input prices index fell to 23.4 from 29.9, the selling prices index remained at 12.5, the capital expenditures index rose to 10.9 from 10.4, the general business activity index increased to 21.2 from 19.2.
The future revenue index fell to 52.3 from 56.5, the employment index declined to 27.3 from 31.6, the part-time employment index climbed to 11.2 from 10.8, the hours worked index increased to 13.3 from 8.3, the wages and benefits index grew to 44.2 from 43.6, the input prices index decreased to 46.5 from 53.9, the selling prices index gained to 36.0 from 35.6, the capital expenditures index dipped to 29.2 from 30.5, the general business activity index slumped to 36.2 from 41.2.
