News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Kansas City Fed Services Activity Index Rises in January

01/28/2022 | 11:46am EDT

By Colin Kellaher


Services activity in the middle of the U.S. edged higher in January, as did expectations for future activity, 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 15 for January, up from 11 in December and 10 for November. Readings above zero indicate expansion, while those below zero indicate contraction.

The Kansas City Fed said the increase reflects a rise in activity in wholesale, retail, transportation, professional and high-tech services, and healthcare activity, while auto, real estate, tourism and restaurant activity decreased in January.

The Kansas City Fed said 19% of businesses surveyed said the recent surge in Covid-19 cases sparked by the Omicron variant had a strong negative effect on business activity, while another 62% reported a slight negative effect.

Despite more firms reporting negative effects from this wave of Covid than previous waves, the Kansas City Fed said expectations for future services activity rose to 37 in January from a reading of 33 in December.

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 central region of the U.S. grew at broadly the same pace in January compared with the previous month.


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


(END) Dow Jones Newswires

01-28-22 1146ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.03% 0.7081 Delayed Quote.-2.75%
BRITISH POUND / US DOLLAR (GBP/USD) -0.03% 1.2561 Delayed Quote.-7.59%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.05% 0.78155 Delayed Quote.-1.40%
EURO / US DOLLAR (EUR/USD) -0.09% 1.06723 Delayed Quote.-7.05%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.43% 0.012899 Delayed Quote.-4.36%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.12% 0.64352 Delayed Quote.-6.09%
Latest news "Economy & Forex"
05:54pUtilities Up on Deal Activity -- Utilities Roundup
DJ
05:52pCommunications Services Up on Growth Bias -- Communications Services Roundup
DJ
05:51pStarbucks to exit Russia after nearly 15 years
RE
05:49pTech Up, Recouping Losses on Deal Activity -- Tech Roundup
DJ
05:47pEmbattled U.S. Rep. Cawthorn faces House ethics probe after election defeat
RE
05:44pFinancials Up after JPMorgan's View of Consumer -- Financials Roundup
DJ
05:44pAustralian Consumer Confidence Rises Helped By Falling Jobless Rate
DJ
05:43pSpirit Airlines says shareholders unlikely to vote against Frontier deal
RE
05:39pConsumer Cos Up as Inflation Concerns Subside -- Consumer Roundup
DJ
05:38pThe WSJ Dollar Index Falls 0.74% to 94.73 -- Data Talk
DJ
Latest news "Economy & Forex"