Dallas Fed: Texas Service Sector Flat in September

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Continuing the pattern that we have seen in recent months, the Dallas Fed’s September Texas Service Sector Outlook Survey didn’t live up to the example set by its manufacturing counterpart. The top line revenue index tipped into negative territory in September, falling 7.5 points to -0.9. The business conditions indexes did the same, falling from slightly positive in August to slightly negative in September. The general business activity index fell 6 6 points to -1.8, while the company specific outlook fell 6.2 points to -3.2. The only bright spot was the employment index, which increased from +0.8 in August to +4.1 in September. Similarly the part-time employment index inched higher, but the hours worked index moved lower m/m. The six-month forward expectations indexes were generally flat to slightly higher m/m.  

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