- Dallas Fed November services sector data
- Prior was -13.6
- Revenue +5.5 vs +8.5 prior
This is a low tier indicator but I like to have a read of the comments.
- The nonresolved railroad workers’ strike is hanging like a dark cloud on the horizon and threatening to disrupt on a massive scale.
- Access to financing remains tight as private capital investors remain conservative, and conventional financing remains expensive. This continues to create tremendous uncertainty for us regarding head count, capital expenditures, pricing and geographical expansion. As a result, we have become more conservative ourselves, slowing our hiring ramp dramatically, curtailing plans for expansion and focusing on increasing profitability through cost cutting and higher-value customers.
- The interest rate environment is creating a slight slowdown in activity for the company.
- We just moved into a smaller facility. We could not give our office furniture away. We had to pay for the furniture to be hauled off because of the glut of shrinking/closing businesses.
- Firm owners and high-level managers are working harder and longer to pick up slack in productivity due to remote-work accountability and child/elderly care demands. Due to transmittable diseases and worker shortage, daycare centers and preschools are shutting down more frequently with only one day’s notice and causing major disruptions to working parents.
- Despite attention on inflation , logistics, energy prices, interest rates and expected recession, clients continue to experience improving financial performance. [There is a] continuing shortage of skilled labor and an increase in wages/benefits.