By Colin Kellaher
Services activity growth in the middle of the U.S. was flat in March, while expectations for future activity moderated but remained positive, according to a monthly survey by the Federal Reserve Bank of Kansas City released Friday.
The Tenth District Services Survey's composite index, a weighted average of indexes covering revenue/sales, employment and inventory, came in at 0 in March, down from 2 in February but up from minus 4 in January. Readings above zero indicate expansion, while those below zero indicate contraction.
The Kansas City Fed said activity in tourism and hotels grew in March, while declines eased in the wholesale, real-estate, professional-services and education sectors. Healthcare and retail activity fell further during the month.
The bank said its index of expectations for future services activity fell to 12 in March from 17 in February, as firms surveyed expect lower sales and employment growth in the coming six months.
The Kansas City Fed's survey 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 in the central U.S. contracted in March, with price pressures on raw materials increasing as firms weigh the Trump administration's tariffs.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 28, 2025 11:16 ET (15:16 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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