December 28, 2022
Texas Service Sector Activity Flat, Outlooks Worsen
What’s New This Month
For this month’s survey, Texas business executives were asked supplemental questions on wages, prices and outlook concerns. Results for these questions from the Texas Manufacturing Outlook Survey, Texas Service Sector Outlook Survey and Texas Retail Outlook Survey have been released together. Read the special questions results.
Texas service sector activity remained mostly flat in December, according to business executives responding to the Texas Service Sector Outlook Survey. The revenue index, a key measure of state service sector conditions, fell six points to near zero, suggesting little change in revenue from November.
Labor market indicators pointed to continued growth in employment, but at a slower pace than in November, and fewer hours worked in December. The employment index fell from 8.3 to 5.6, while the part-time employment index fell two points to -1.3. The hours worked index