“Texas service sector activity accelerated in July, according to business executives responding to the Texas Service Sector Outlook Survey,” the Federal Reserve Bank of Dallas reported on Tuesday.
Key takeaways
- The revenue index, a key measure of state service sector conditions, rose from 19.0 in June to a three-year high of 25.4 in July.
- The employment index remained positive but fell slightly from 13.9 in June to 11.9 in July.
- The general business activity index fell slightly from 22.4 in June to 21.1 in July.
- The company outlook index was largely unchanged at 14.2.
- The selling price index edged down to 13.2 in July, though it continues to hold well above its post-recession average.
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