The Federal Reserve Bank of Kansas City’s August Services Survey found that Tenth District services activity declined from the previous month. Firms’ expectations for activity over the next few months also moderated but remained positive. More than a quarter of firms reported lower-than-normal employee turnover in 2026. A majority identified technology improvements or reduced turnover as the primary factor increasing productivity. The survey incorporates new seasonal adjustment factors, resulting in slight revisions to historical indexes.
2026-08-28Federal Reserve Bank of Kansas City
Federal Reserve Bank of Kansas City reports August contraction in Tenth District services activity
The Federal Reserve Bank of Kansas City reported that Tenth District services activity contracted in August, while firms’ expectations moderated but remained positive. More than a quarter of respondents reported lower-than-normal employee turnover, and most cited technology improvements or reduced turnover as the main driver of productivity gains.