Dallas Fed: Texas service sector activity accelerated in July

"Texas service sector activity accelerated in July, according to business executives responding to the Texas Service Sector Outlook Survey," the Federal Reserve Bank of Dallas reported on Tuesday.

Key takeaways

• The revenue index, a key measure of state service sector conditions, rose from 19.0 in June to a three-year high of 25.4 in July.
• The employment index remained positive but fell slightly from 13.9 in June to 11.9 in July.
• The general business activity index fell slightly from 22.4 in June to 21.1 in July.
• The company outlook index was largely unchanged at 14.2.
• The selling price index edged down to 13.2 in July, though it continues to hold well above its post-recession average.