Texas service sector activity "continued to reflect expansion in May but at a slower pace than in April," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index fell to 3.8 from 14.6.
The employment index rose to 8.9 from 7.9, the part-time employment index increased to 4.5 from 3.9, the hours worked index slipped to 1.9 from 4.7, the wages and benefits index inched down to 16.1 from 16.2, the input prices index dipped to 18.8 from 19.3, the selling prices index rose to 3.6 from 3.4, the capital expenditures index increased to 13.0 from 7.1, the general business activity index reversed to positive 1.1 from negative 1.0.
The future revenue index rose to 33.8 from 32.1, the employment index grew to 25.9 from 20.4, the part-time employment index gained to 9.2 from 7.0, the hours worked index slid to 2.8 from 4.3, the wages and benefits index decreased to 35.2 from 38.9, the input prices index fell to 39.8 from 40.4, the selling prices index slid to 19.8 from 21.5, the capital expenditures index declined to 22.8 from 24.3, the general business activity index jumped to 10.6 from 6.2.
