Texas service sector activity “grew at a slower pace in December,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index fell to 10.1, from 21.4.
The employment index gained to 9.9 from 8.7, the part-time employment index decreased to 1.6 from 3.6, the hours worked index declined to 1.9 from 7.5, the wages and benefits index slipped to 19.8 from 20.9, the input prices index slid to 26.1 from 27.0, the selling prices index decreased to 10.5 from 12.2, the capital expenditures index fell to 10.9 from 11.3, the general business activity index dropped to negative 5.0 from positive 11.4.
The future revenue index slid to 32.3 from 41.4, the employment index dropped to 20.0 from 30.0, the part-time employment index decreased to 5.7 from 10.9, the hours worked index slid to 6.0 from 6.3, the wages and benefits index fell to 43.4 from 47.3, the input prices index grew to 47.4 from 44.5, the selling prices index decreased to 29.4 from 31.7, the capital expenditures index fell to 21.6 from 27.4, the general business activity index fell to negative 5.0 from positive 16.6.
