Texas service sector activity "expanded at a slower pace in January," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index declined to 12.1 from 22.2.
The employment index slid to 5.8 from 14.3, the part-time employment index declined to 1.0 from 3.5, the hours worked index decreased to 1.3 from 7.2, the wages and benefits index slid to 13.5 from 17.0, the input prices index dropped to 11.4 from 19.9, the selling prices index fell to 2.8 from 6.9, the capital expenditures index dipped to 7.5 from 9.3, the general business activity index dropped to negative 2.8 from positive 12.1.
The future revenue index fell to 33.6 from 42.9, the employment index climbed to 24.8 from 24.7, the part-time employment index gained to 9.0 from 8.5, the hours worked index grew to 5.1 from 4.1, the wages and benefits index increased to 43.3 from 41.5, the input prices index rose to 38.2 from 37.8, the selling prices index slid to 25.6 from 26.7, the capital expenditures index increased to 22.2 from 21.4, the general business activity index fell to 6.1 from 16.9.
