The Federal Reserve Bank of Kansas City released its May Services Survey, which showed that growth in the Tenth District slowed a bit in May with the expectations forecast also slipping, according to a news release.
Chad Wilkerson, senior vice president at the Federal Reserve Bank of Kansas City, said in the bank’s news release there were positive signs. According to the news release, the amassed data enables analysts to track long-term trends.
“Growth in regional services activity slowed slightly in May but remained positive,” he said in the release. “Expectations for future activity also eased, and a majority of firms are expecting cost increases to be similar to or slightly less than last year.”
The summary of the survey is available online and visitors to the site can find historical data, results from past surveys and dates for future surveys.
The bank noted that the monthly Survey of Tenth District Services from the Kansas City Fed also offers data on several key activity indicators, from revenue, sales and employment to capital expenditures, changes in the cost of materials and selling prices.
Moreover, according to the news release, survey participants are drawn from several sectors, including wholesale trade, auto dealers, retail, technology, information, real estate, restaurants, professional services, health services, tourism and related industries.
The bank added in its release the Tenth Federal Reserve District includes the western third of Missouri, Kansas, Colorado, Nebraska, Oklahoma, Wyoming, and the northern half of New Mexico, with service from the Federal Reserve Bank of Kansas City.
According to the news release, as a member of the central bank of the nation, the bank is involved in developing national monetary policies and has oversight for many commercial banks and bank holding companies. The news release indicated it also offers financial services to depository institutions.
