FOR IMMEDIATE RELEASE
May 28, 2021
CONTACT: Pam Campbell
KANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City released the May Services Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District services activity continued to expand at high levels, and expectations for future activity increased.
“Regional services activity continued to grow in May,” said Wilkerson. “Input and selling prices posted record highs again this month. Many firms reported raising wages to attract more job applicants. While most firms indicated they expect supply chain issues to persist, overall expectations for business activity have continued to expand.”
The Kansas City Fed’s monthly Survey of Tenth District Services provides information on several indicators of activity including sales, revenue, employment and capital spending, while identifying changes in prices of input materials and selling prices. Survey participants represent a variety of industries, including retail and wholesale trade, automobile dealers, transportation, information, high-tech and professional services, real estate, education, restaurants, health services, tourism and other services firms. Historical data, results from past surveys and release dates for future surveys are also available.
The Federal Reserve Bank of Kansas City serves the Tenth Federal Reserve District, encompassing the western third of Missouri; all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming; and the northern half of New Mexico. As part of the nation’s central bank, the Bank participates in setting national monetary policy, supervising and regulating numerous commercial banks and bank holding companies, and providing financial services to depository institutions.