Following three months of steep decline, the Texas service sector showed signs of growth in June, according to business executives responding to the Texas Service Sector Outlook Survey. The revenue index, a key measure of state service sector conditions, rebounded to positive territory, advancing from -28.1 in May to 5.7 in June.
Labor market indicators reflected mostly stable employment and workweek length in June. The employment index rose over eight points to -1.9, suggesting little net change in jobs compared with May. The hours worked index ticked up over nine points to -0.2.
Read more...Texas Service Sector Outlook Survey June 2020 via Dallas Fed