Tenth District Services Activity Grew Moderately, Driven More by the Consumer Sector

FOR IMMEDIATE RELEASE

Nov. 22, 2024

CONTACT: Sarah Dickson

KANSAS CITY, Mo – The Federal Reserve Bank of Kansas City released the November Services Survey today. According to Megan Williams, associate economist and survey manager at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District services activity grew moderately in November, driven more by the consumer services sector than business services. Expectations for future activity stayed positive.

“Regional services activity grew moderately in November,” said Williams. “The consumer services sector grew at a faster pace than business services this month, but both sectors’ activity increased.”

A summary of the November survey is below. The Federal Reserve Bank of Kansas City released a breakout of the year-over-year composite index for consumer services and business services and will release this breakout going forward. Historical data with the broken-out yearover-year composite indexes are available at External Linkwww.kansascityfed.org/surveys/services-survey/External Link.

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.

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. More information is available online at External Linkwww.kansascityfed.orgExternal Link.

###