Tenth District Services Rose Moderately in May:

FOR IMMEDIATE RELEASE

May 22, 2026

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The Federal Reserve Bank of Kansas City released the May Services Survey today. According to Cortney Cowley, assistant vice president and Oklahoma City Branch executive, results from the survey showed that Tenth District services activity rose moderately in May, and expectations for future activity cooled but remained positive.

"Regional services activity rose moderately in May, as the general revenue index doubled from last month," said Cowley. "However, firms are experiencing cost pressures. Approximately half of firms reported their input prices were changing more frequently than in 2025."

A summary of the May survey is below. The May survey incorporates new seasonal adjustment factors using Census X-13 ARIMA-SEATS, so historical indexes differ slightly from previously released numbers. The new seasonal factors will be used throughout 2025. Historical data, results from past surveys and release dates for future surveys are available at External Linkhttps://www.kansascityfed.org/surveys/services-survey/.

The Kansas City Fed's monthly Survey of Tenth District Services provides information on several indicators of activity including sales, revenue, employment and capital spending, while identifying changes in prices of input materials and selling prices. Survey participants represent a variety of industries, including retail and wholesale trade, automobile dealers, transportation, information, high-tech and professional services, real estate, education, restaurants, health services, tourism and other services firms.

The Federal Reserve Bank of Kansas City serves the Tenth Federal Reserve District, encompassing the western third of Missouri; all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming; and the northern half of New Mexico. As part of the nation's central bank, the Bank participates in setting national monetary policy, supervising and regulating numerous commercial banks and bank holding companies, and providing financial services to depository institutions. More information is available online at External Linkhttps://www.kansascityfed.org.

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