Services Activity Expands in January -- Kansas City Fed
24 January 2020 - 5:11PM
Dow Jones News
By Colin Kellaher
Services activity in the middle of the U.S. continued to expand
in January, and expectations for future growth rose, according to a
monthly survey by the Federal Reserve Bank of Kansas City.
The Tenth District Services Survey's composite index, a weighted
average of indexes covering revenue/sales, employment and
inventory, slipped to 14 in January from a reading of 15 in
December but remained solidly in expansion territory.
The Kansas City Fed said expectations for future services
activity rose to 28 in January from 15 in December.
"Regional services activity continued to hum along in January,"
said bank economist Chad Wilkerson. "The labor market remains
tight, and the expectations index for wages and benefits continues
to rise."
The Kansas City Fed's survey includes participants from such
service industries as retail and wholesale trade, automobile
dealers, real estate and restaurants. The survey provides
information on current services activity in the Tenth District,
which includes Colorado, Oklahoma, Wyoming, Nebraska, Kansas, the
northern half of New Mexico and the western third of Missouri.
The bank's monthly manufacturing survey, released Thursday,
showed that factory activity in the region was down slightly in
January, with firms reporting a modest rise in employment.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 24, 2020 11:56 ET (16:56 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.