The U.S services sector in the Tenth District has experienced marginal positive growth in September, according to the Federal Reserve Bank of Kansas City's survey. The survey, which covers diverse service industries, indicated subdued expectations for future activity. This information was presented in an article by Colin Kellaher on Friday.
The composite index, which encompasses revenue/sales, employment, and inventory, revealed a negative employment index and a moderated capital-spending index. This suggests that firms surveyed are anticipating stagnant employment growth.
In addition to the services sector dynamics, the Federal Reserve Bank of Kansas City's monthly manufacturing survey pointed out a corresponding decline in central U.S factory activity. This indicates that not only the services sector but also the manufacturing industry is experiencing a downturn in this region.
These surveys provide critical insights into the dynamics of both the services and manufacturing sectors in the central U.S., helping to inform economic forecasting and policy decision-making. As per this data, both sectors seem to be facing challenges in terms of employment and overall activity.
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