Texas service sector activity “continued to increase in January, albeit at a slower pace than last month,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index plunged to 12.8 from 24.4.

The employment index dropped to 6.8 from 15.3, the part-time employment index decreased to 0.1 from 5.6, the hours worked index fell to 3.9 from 9.2, the wages and benefits index slid to 15.0 from 20.1, the input prices index gained to 33.7 from 33.3, the selling prices index declined to 12.4 from 16.6, the capital expenditures index fell to 8.8 from 13.4, the general business activity index climbed to 22.2 from 18.1.

The future revenue index fell to 53.8 from 56.3, the employment index dipped to 30.3 from 30.6, the part-time employment index gained to 14.0 from 13.3, the hours worked index decreased to 11.8 from 12.3, the wages and benefits index slipped to 47.2 from 47.6, the input prices index dipped to 51.3 from 51.4, the selling prices index rose to 38.2 from 37.8, the capital expenditures index inched down to 35.6 from 35.7, the general business activity index gained to 36.0 from 35.0.

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