United States Dallas Fed Services Index

The Dallas Fed’s general business activity index for Texas services tumbled 15.9 points to -11.3 in March 2025, its lowest level since November 2023, indicating a further deterioration in business conditions. Meanwhile, the revenue index, a key gauge of the state’s service sector health, dropped 7 points to 1.3, with the near-zero reading signaling stagnant revenue growth. Labor market data showed a slight uptick in employment for the month, though average workweeks remained unchanged. Business sentiment worsened sharply, with the company outlook index plunging to its lowest level since mid-2022, while the outlook uncertainty index spiked to 27.3, its highest since October 2022. On the cost front, selling price pressures eased slightly in March, while input price and wage growth remained steady.