Texas Service Sector Activity Expands at a Slower Pace but Hiring Continues

by CoyDavidson on May 1, 2012

Texas Service Sector Outlook Survey

A Federal Reserve Bank of Dallas report indicates that much like the Manufacturing Sector, the Texas Service Sector continues to expand but at a slower pace.

Texas service sector activity increased in April, according to business executives responding to the Texas Service Sector Outlook Survey. The revenue index, a key measure of state service sector conditions, fell from 16.5 to 12.6, suggesting growth slowed.

In what is a continued positive for major Texas office markets, the Labor market indicators reflected continued hiring and slightly longer workweeks. The employment index rose to 11.1 in April from 7.7 in March.

Retail sales increased in April, according to business executives responding to the Texas Retail Outlook Survey. The sales index fell sharply from 22 to 10.6, consistent with slower sales growth. Inventories rose.

Texas Service Sector Outlook May 2012

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