Kansas City Fed Services Activity Index Falls in August

Dow Jones08-28 23:10

Services activity in the middle of the U.S. fell in August, and expectations for future activity moderated, according to a monthly survey by the Federal Reserve Bank of Kansas City.

The Tenth District Services Survey's composite index, a weighted average of indexes covering revenue/sales, employment and inventory, came in at minus 3 in August. down from readings of 14 in July and 5 in June. Readings above zero indicate expansion, while those below zero indicate contraction.

The Kansas City Fed said wholesale-trade and leisure/hospitality activity fell considerably in August, while education and health-services activity rose.

The bank said its index of expectations for future services activity came in at 5 in August, down from 24 in July, driven primarily by tempered general revenue/sales expectations.

The Kansas City Fed's survey, released Friday, includes participants from such service industries as retail and wholesale trade, automobile dealers, real estate and restaurants. The survey provides information on current services activity in the Tenth District, which includes Colorado, Oklahoma, Wyoming, Nebraska, Kansas, the northern half of New Mexico and the western third of Missouri.

The bank's monthly manufacturing survey, released Thursday, showed that manufacturing activity in the central U.S. kept its upward momentum in August.

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Readings above zero indicate expansion, while those below zero indicate contraction. \n\n\n  The Kansas City Fed said wholesale-trade and leisure/hospitality activity fell considerably in August, while education and health-services activity rose. \n\n\n  The bank said its index of expectations for future services activity came in at 5 in August, down from 24 in July, driven primarily by tempered general revenue/sales expectations. \n\n\n  The Kansas City Fed's survey, released Friday, includes participants from such service industries as retail and wholesale trade, automobile dealers, real estate and restaurants. The survey provides information on current services activity in the Tenth District, which includes Colorado, Oklahoma, Wyoming, Nebraska, Kansas, the northern half of New Mexico and the western third of Missouri. \n\n\n  The bank's monthly manufacturing survey, released Thursday, showed that manufacturing activity in the central U.S. kept its upward momentum in August.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.48.0","shortVersion":"4.48.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2662094941","isCrawlerRequest":true}