The Federal Reserve Bank of Kansas City released its May Services Survey, showing that Tenth District services activity rose moderately in May. The general revenue index doubled from the previous month, while expectations for future activity cooled but remained positive. The survey also pointed to continued cost pressure. About half of firms reported that their input prices were changing more frequently than in 2025. The bank noted that the May survey incorporates new seasonal adjustment factors using Census X-13 ARIMA-SEATS, so historical indexes differ slightly from previously released figures. The monthly survey tracks indicators including sales, revenue, employment, capital spending, and input and selling prices across a broad range of service industries.
Federal Reserve Bank of Kansas City2026-05-22
Federal Reserve Bank of Kansas City reports moderate rise in Tenth District services activity and persistent cost pressures in May
The Federal Reserve Bank of Kansas City reported that Tenth District services activity rose moderately in May, with the general revenue index doubling from the previous month while expectations for future activity cooled but remained positive. The survey indicated ongoing cost pressures, with about half of firms seeing more frequent input price changes than in 2025, and introduced updated seasonal adjustment factors using Census X-13 ARIMA-SEATS, slightly revising historical indexes.