The Federal Reserve Bank of Kansas City released its October Services Survey, showing moderate growth in Tenth District services activity, led by consumer services. Expectations for future activity eased but remained positive, while employment declined on net. A majority of surveyed firms reported higher sales than a year earlier. However, headcounts were not expected to recover over the next six months, highlighting a divergence between sales growth and hiring expectations.
Federal Reserve Bank of Kansas City reports moderate growth in October services activity as employment declines
The Federal Reserve Bank of Kansas City’s October Services Survey showed moderate growth in regional services activity, driven by consumer services, while expectations for future activity softened but stayed positive. Most firms reported higher sales than a year earlier, but employment fell on net and headcounts were not expected to recover over the next six months.