Texas service sector activity “grew at a faster pace in January,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index climbed to 14.9, from 10.1.
The employment index slid to 7.0 from 9.9, the part-time employment index decreased to negative 0.1 from positive1.6, the hours worked index gained to 6.6 from 1.9, the wages and benefits index slipped to 18.7 from 19.8, the input prices index fell to 20.1 from 26.1, the selling prices index decreased to 7.9 from 10.5, the capital expenditures index dropped to 9.8 from 10.9, the general business activity index narrowed to negative 4.8 from negative 5.0.
The future revenue index rose to 37.3 from 32.3, the employment index jumped to 23.8 from 20.0, the part-time employment index increased to 6.6 from 5.7, the hours worked index grew to 7.9 from 6.0, the wages and benefits index fell to 40.8 from 43.4, the input prices index declined to 39.9 from 47.4, the selling prices index decreased to 28.1 from 29.4, the capital expenditures index rose to 24.3 from 21.6, the general business activity index narrowed to negative 0.6 from negative 5.0.
