Federal Reserve Bank of Kansas City's Tenth Federal Reserve District's energy activity remains in decline but that's expected to continue to slow, the bank announced in a news release issued last week.
Federal Reserve Bank of Kansas City announced in its news release issued Friday that that it had released its second quarter Energy Survey.
"District drilling and business activity continued to decline in Q2 as commodity prices remain weak and profits decline further," Federal Reserve Bank of Kansas City Senior Vice President Chad Wilkerson said in the news release. "Meanwhile, employment activity picked up and is expected to remain expansionary.”
The Tenth District, which includes the western third of Missouri, all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming, as well as the northern half of New Mexico, is serviced by the Federal Reserve Bank of Kansas City
The Energy Survey provides details on the activity that energy companies in the Tenth District are now engaged in and anticipate. The survey tracks the activities of oil and gas-related businesses having headquarters or locations in the Tenth District, and its findings are based on total firm activity. The results of the survey show changes in a number of energy activity indices, including drilling, capital expenditures, and employment. Companies also provide price estimates for gas and oil. Each result is a diffusion index, which is calculated by subtracting the percentage of firms reporting rises from the percentage of firms reporting reductions.
Federal Reserve Bank of Kansas City participates in making national monetary policy as a member of the central bank of the country. It also oversees and controls a large number of commercial banks and bank holding companies, as well as offering financial services to depository institutions.
Anyone who would like more information may visit the Federal Reserve Bank of Kansas City's website.
