Business services in a seven-state region that includes Oklahoma grew steadily in July, according to a survey released by the Federal Reserve Bank of Kansas City.
“In July, services activity rose solidly compared to previous months, but remained below year-ago levels,” Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City. “Meanwhile, over a third of businesses reported higher business costs over the past six months, and expectations for future activity fell slightly.”
The Kansas City Fed’s monthly survey of Tenth District Services provides information on several indicators, including sales, revenue, employment and capital spending while identifying changes in prices of input materials and selling prices.
Survey participants represent a variety of industries, including retail and wholesale trade, automobile dealers, transportation, information, high-tech and professional services, real estate, education, restaurants, health services, tourism and other services firms.
The Federal Reserve Bank of Kansas City serves the