The Dallas Fed general business activity index for Texas' service sector fell to -17.3 in May of 2023 from -14.4 in April, worse than market forecasts of -16, in a sign perceptions of broader business conditions continued to worsen. Decreases were seen in employment (4.2 vs 5.5), input prices (31.8 vs 35.5) and wage pressures (16.6 vs 18.4) while activity growth was steady (revenues index at 6.9 vs 6.9 in April). Also, capital expenditures increased slightly (11.5 vs 10.3). Meanwhile, the company outlook index worsened a bit to -9.5 from -9.4 and the outlook uncertainty index fell to 15.8 from 16.1. At the same time, the future general business activity index decreased to -13.2 from -13. source: Federal Reserve Bank of Dallas

Dallas Fed Services Index in the United States averaged 3.05 points from 2007 until 2023, reaching an all time high of 41.30 points in May of 2021 and a record low of -83.70 points in April of 2020. This page includes a chart with historical data for the United States Dallas Fed Services Index. United States Dallas Fed Services Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

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United States Dallas Fed Services Index



Calendar GMT Actual Previous Consensus TEForecast
2023-04-25 02:30 PM Apr -14.4 -18 -16
2023-05-31 02:30 PM May -17.3 -14.4 -16 -15
2023-06-27 02:30 PM Jun -17.3 -15


Related Last Previous Unit Reference
Dallas Fed Manufacturing Index -29.10 -23.40 points May 2023
Dallas Fed Services Revenues Index 6.90 6.90 points May 2023
Dallas Fed Services Index -17.30 -14.40 points May 2023

United States Dallas Fed Services Index
The Dallas Fed conducts the Texas Service Sector Outlook Survey monthly to obtain a timely assessment of the state's service sector activity. Firms are asked whether revenue, employment, prices, general business activity and other indicators increased, decreased or remained unchanged over the previous month. Responses are aggregated into balance indexes where positive values generally indicate growth while negative values generally indicate contraction.
Actual Previous Highest Lowest Dates Unit Frequency
-17.30 -14.40 41.30 -83.70 2007 - 2023 points Monthly
SA

News Stream
Texas Service Sector Outlook Worsens
The Dallas Fed general business activity index for Texas' service sector fell to -17.3 in May of 2023 from -14.4 in April, worse than market forecasts of -16, in a sign perceptions of broader business conditions continued to worsen. Decreases were seen in employment (4.2 vs 5.5), input prices (31.8 vs 35.5) and wage pressures (16.6 vs 18.4) while activity growth was steady (revenues index at 6.9 vs 6.9 in April). Also, capital expenditures increased slightly (11.5 vs 10.3). Meanwhile, the company outlook index worsened a bit to -9.5 from -9.4 and the outlook uncertainty index fell to 15.8 from 16.1. At the same time, the future general business activity index decreased to -13.2 from -13.
2023-05-31
Texas Service Sector Outlook Remains Weak
The Dallas Fed general business activity index for Texas' service sector increased to -14.4 in April of 2023 from -18 in March, suggesting perceptions of broader business conditions continued to worsen, though pessimism waned slightly. The company outlook index also improved to -9.4 from -11.3 while the outlook uncertainty index fell to 16.1. At the same time, the future general business activity index remained negative but largely unchanged at -13.0. In April, improvements were seen for revenues (6.9 vs 5.5), a key measure of state service sector conditions, employment (5.5 vs -0.4), input prices (35.5 vs 38.3), wage pressures (18.4 vs 19.8) and capital expenditures (10.3 vs 7.4).
2023-04-25
Texas Service Sector Outlook Deteriorates in March
The Dallas Fed general business activity index for Texas' service sector dropped 8.7 points to a three-month low of -18.0 in March 2023, suggesting perceptions of broader business conditions worsened further as uncertainty picked up. The company outlook index also fell 9.6 points to -11.3, while the outlook uncertainty index rose 9.9 points to 22.8, above its series average of 13.5. By contrast, the revenue index, a key measure of state service sector conditions, edged down just over one point to 5.5, suggesting a slight slowdown in activity growth, while labor market indicators pointed to mostly flat employment and a slight contraction in workweeks. On the price front, inflationary pressures eased, and wage pressures remained elevated. The input prices index ticked down 2.3 points to 38.3, and the selling prices index dropped 8.4 points to 11.4. The wages and benefits index was slightly up to 19.8, remaining above its average reading of 15.7.
2023-03-28