Business executives responding to the Dallas Fed monthly survey noted Revenues in Texas’ Services Sector slowed during May from 14.6 to 3.8, its lowest reading in almost three years. There was no explanation of what might be reducing the Revenues for Texas’ Services Sector.
Perhaps more significant is the General Business Activity that came in positive after two months negative. This is the perception of Service Sector executives of the broader economic activity and that it might be improving.
All in all, the general consensus of business executives for Texas’ Services Sector was positive.
At this time Texas is not a services-driven economy but many people believe the U.S. is therefore, the Services Sector is a very important aspect of employment and is tracked separately from Manufacturing and Retail due to its significance. As Texas becomes more Professional with the influx of new businesses and technologies, it’s likely this sector will grow here in Texas as well so it’s wise to monitor its changes.
How does the Services Sector Outlook Report affect real estate in Dallas? Does this economic data portend future head winds?
Realtor Brenda is a Texas-licensed real estate agent with Ebby Halliday Realtors located at 1415 Legacy Dr, Suite 100, Frisco, TX 75034. The office telephone is 972-335-6564 or you may reach Realtor Brenda via cell/text at 469-408-3148. Realtor Brenda’s website is www.realtorbrenda.com.
References: Dallas Fed Report for Service Sector Outlook http://www.dallasfed.org/microsites/research/surveys/tssos/2015/1505/tssos1505.cfm