(Dallas Fed) The revenue index, gauging the service sector conditions in Texas, rose to 23.4 in March from 21.9 in February. The reading was the highest in four months.
Service firms continued with robust hiring, with the employment index holding steady at 14.4, while part-time employment held at 7.0. The hour’s worked index was unchanged at 9.9.
The wages and price pressures persisted, with the former posting an index of 36.5, up from 34.7. The selling prices index rose to 33.9 from 29.9, while the input prices gauge rose to 59.2 from 51.2, both record highs.
The overall perceptions of broader business conditions held in the positive territory, although optimism waned from February. The company outlook index declined from 14.2 to 2.7, while the uncertainty index rose to 22.5 from 7.6, the highest since mid-2020.
The future general business activity gauge went down to 15.4 from 21.2, but the future revenue index improved by four points to 55.8. Major future activity indexes such as employment also rose to higher levels.
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