FOR IMMEDIATE RELEASE
Feb. 28, 2025
CONTACT: Sarah Dickson
KANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City released the February Services Survey today. According to Megan Williams, associate economist and survey manager, the survey revealed that Tenth District services activity grew only slightly in February, with growth in the business sector and steady activity in the consumer sector. Expectations for future activity remained expansionary.
“Regional services activity in the business sector grew moderately, while consumer sector activity was essentially flat,” said Williams. “Growth in input prices continues to outpace increases in output prices, as nearly half of firm only pass 0-20% of cost increases to customers.”
A summary of the February survey is below. The February survey incorporates new seasonal adjustment factors using Census X-13 ARIMA-SEATS, so historical indexes differ slightly from previously released numbers. The new seasonal factors will be used throughout 2025. Historical data, results from past surveys and release dates for future surveys are available at External Linkwww.kansascityfed.org/surveys/services-survey/.
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.org.
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