Modest Improvement in KC Fed’s Services Indexes in July

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The Federal Reserve Bank of Kansas City’s July Services Survey reflects a modest increase in activity in the Tenth Federal Reserve District. The top line composite index increased to 14 in July from 5 in June. The general revenue/sales index also rose moderately to 19  from 3. Employee count ticked up minimally to 4 from 1 but the hours worked index declined from 8 in June to -1 in July. Part time employment fell from 8 to -5, but this index has been negative to barely positive for the last year. The six-month expectations indexes were generally flat m/m, with the composite and general revenue/sales indexes remaining in solidly positive territory at 24 and 39 respectively.


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