The Federal Reserve Bank of Kansas City published its February Survey of Tenth District Services, indicating services activity rose modestly in January and expectations for future activity edged higher. The release also points to continued gains in February, with revenue growth reaching its highest reading since June 2023, while employment fell further even as firms did not anticipate employment declines over the next six months. The survey tracks indicators such as sales, revenue, employment and capital spending, as well as changes in input and selling prices, across a range of service industries. February’s results incorporate new seasonal adjustment factors using Census X-13 ARIMA-SEATS, which slightly changes historical index values versus prior releases, and these seasonal factors will be used throughout 2025.
Federal Reserve Bank of Kansas City 2026-02-27
Federal Reserve Bank of Kansas City releases February Services Survey showing modest Tenth District activity gains and weaker employment
The Federal Reserve Bank of Kansas City's February Survey of Tenth District Services shows modest growth in services activity for January, with future activity expectations rising. February saw continued gains, with revenue growth at its highest since June 2023, despite a further decline in employment. The survey includes updated seasonal adjustment factors affecting historical index values, to be used through 2025.