Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Kansas City Fed Services Activity Index Turns Positive in October

10/23/2020 | 11:51am EDT

By Colin Kellaher

Services activity in the middle of the U.S. expanded in October, and expectations for future activity rose, according to a monthly survey by the Federal Reserve Bank of Kansas City.

The Tenth District Services Survey's composite index, a weighted average of indexes covering revenue/sales, employment and inventory, came in at 12 for October, up from minus 7 in September. Readings above zero indicate expansion, while those below zero indicate contraction.

The Kansas City Fed said expectations for future services activity remained positive in October, but the index slipped to 7 from a reading of 19 in September.

The bank said all of its month-over-month indexes were positive in October, with the general revenue and sales index rebounding sharply from September thanks to more wholesale, retail, real-estate and health services activity.

Around 60% of firms contacted for the survey said employment levels were even with or exceeded pre-pandemic levels, and 24% said they expected employment levels to fully rebound by the end of next year.

The Kansas City Fed's survey includes participants from such service industries as retail and wholesale trade, automobile dealers, real estate and restaurants. The survey provides information on current services activity in the Tenth District, which includes Colorado, Oklahoma, Wyoming, Nebraska, Kansas, the northern half of New Mexico and the western third of Missouri.

The bank's monthly manufacturing survey, released Thursday, showed that factory activity in the region expanded in October for a fifth straight month, and at slightly faster pace than that of September.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

10-23-20 1150ET

Latest news "Economy & Forex"
06/14Japan's nikkei average futures up 0.73% in early trade
RE
06/14PM TO TELL NATO LEADERS : Collective Security must be the foundation of pandemic recovery
PU
06/14UK manufacturers report swift recovery, more investment
RE
11:57pSTATISTICS NEW ZEALANDá : Trans-Tasman bubble lifts travel
PU
11:34pTESLAá : Bitcoin rises 9.8% to $39,035
RE
11:13pShell weighs blockbuster sale of Texas shale assets
RE
11:07pJudge tosses Houston hospital workers' lawsuit over vaccine requirement
RE
11:03pBitcoin last up 9.7% at $38,982.37; ether last up 6.7% at $2,525.05
RE
11:03pBitcoin rises 9.8 percent to $39,035
RE
11:00pExxon, shell, total, conocophillips, chevron and eni bid to partner in qatar's giant lng expansion project -sources
RE
Latest news "Economy & Forex"