Texas service sector activity “accelerated in July,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index jumped to 25.4, a three-year high, from 19.0.
The employment index slipped to 11.9 from 13.9, the part-time employment index increased to 5.7 from 4.3, the hours worked index fell to 9.1 from 10.7, the wages and benefits index grew to 24.5 from 24.2, the input prices index slid to 31.4 from 32.2, the selling prices index declined to 13.2 from 15.4, the capital expenditures index rose to 17.4 from 14.4, the general business activity index fell to 21.1 from 22.4.
The future revenue index slid to 44.1 from 44.6, the employment index held at 28.9, the part-time employment index decreased to 9.4 from 9.5, the hours worked index fell to 9.1 from 10.7, the wages and benefits index grew to 51.1 from 50.4, the input prices index gained to 48.7 from 45.4, the selling prices index decreased to 35.0 from 35.8, the capital expenditures index crept to 28.7 from 28.4, the general business activity index declined to 25.5 from 28.7.
