News Column

BRIEF: Dallas Fed: June's service-sector growth spurs hiring, boosts optimism

July 1, 2014

By Dan Zehr, Austin American-Statesman



July 01--

Another strong month of retail-sales growth helped raise the pace of expansion throughout the state's private service sector in June, prompting both an increase in hiring and a jump in optimism about business conditions, according to a report Tuesday from the Federal Reserve Bank of Dallas.

The state revenue index, a key measure of activity among its private service-providing firms, rose to 16.9 last month from 13.1 in May, according to the Texas Service Sector Outlook Survey. The greater, positive figure suggested that activity in the sector grew at a faster rate in June.

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Source: Austin American-Statesman (TX)


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