United States Dallas Fed Services Index

The Dallas Fed's general business activity index dropped 3.8 points from the previous month to -9.4 in October of 2025, reflecting the sharpest decline in activity since May. The revenue index, a key measure of state service sector conditions, fell by 4 points to -6.4. The deteriorating trend for business drove firms to shed their employment levels for a second month (-5.8 vs -3.6) and slow their wages and benefits (1.7 vs 11.9). In the meantime, input prices rose at a softer pace despite remaining sharply higher (23 vs 24.4), driving selling charges to regain traction (4.6 vs 1.6). Looking ahead, the company outlook index deteriorated to 10 from -2.6 in the earlier month.