Energy Activity Contracts in 1Q, KC Fed Says -- Market Talk

Dow Jones04-13

1208 ET - Energy activity in the middle of the U.S. fell again in the first quarter, albeit at a slower clip than in the final quarter of 2023, and the decline is expected to continue, the Federal Reserve Bank of Kansas City's quarterly survey shows. The Tenth District Energy Survey's key index of drilling and business activity comes in at minus 13 for the quarter, up from a 4Q reading of minus 33. Readings below zero indicate contraction. The survey's future drilling and business activity index, which covers expectations for expected to continue in the next six months, falls to minus 10 from 7 in the fourth quarter. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

April 12, 2024 12:08 ET (16:08 GMT)

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The survey's future drilling and business activity index, which covers expectations for expected to continue in the next six months, falls to minus 10 from 7 in the fourth quarter. 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The Tenth District Energy Survey's key index of drilling and business activity comes in at minus 13 for the quarter, up from a 4Q reading of minus 33. Readings below zero indicate contraction. The survey's future drilling and business activity index, which covers expectations for expected to continue in the next six months, falls to minus 10 from 7 in the fourth quarter. 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The survey's future drilling and business activity index, which covers expectations for expected to continue in the next six months, falls to minus 10 from 7 in the fourth quarter. 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