Journal Article

Consumer Discretionary Sector Has Boosted Recent Regional Services Activity as Business and Professional Activity Slows

Abstract: The Kansas City Fed’s monthly services survey tracks business activity for a wide variety of services firms in the Tenth District. We segment the results into consumer services (both discretionary and nondiscretionary) and business and professional services and find that the consumer sector has been stronger than the business and professional sector recently, driven by discretionary services. Accordingly, consumer services firms report greater pricing power, expected wage growth, and capital expenditures.

Keywords: Kansas City Federal Reserve Services Survey; Tenth Federal Reserve District; services sector;

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2024-06-26

Pages: 4