The Federal Reserve Bank of Kansas City published its April Services Survey, reporting that services activity in the Tenth District continued to grow but at a slower pace, while expectations for future services activity increased slightly. Following four consecutive months of faster growth, the survey indicated a moderation in April. Nearly 75% of firms reported higher transportation costs over the past two months, and most firms reported passing through only 0–20% of energy-related cost increases to customers. The release also noted that the April survey incorporates new seasonal adjustment factors using Census X-13 ARIMA-SEATS, which slightly changes historical indexes compared with previously published figures, and that these seasonal factors will be used throughout 2025.
Federal Reserve Bank of Kansas City 2026-04-24
Federal Reserve Bank of Kansas City releases April Services Survey showing slower Tenth District services growth and slightly higher expectations
The Federal Reserve Bank of Kansas City’s April Services Survey reports continued but moderating services activity growth in the Tenth District, alongside a slight uptick in expectations for future activity. Nearly three-quarters of firms cited higher transportation costs, with most passing through only a small share of energy-related cost increases to customers. The survey also introduces new Census X-13 ARIMA-SEATS seasonal adjustment factors, slightly revising historical indexes to be used through 2025.