Kansas City Fed Services Activity Index Jumps Into Positive Territory In February

(RTTNews) - Service sector activity in the middle of the U.S. saw a notable turnaround in the month of February, according to a report released by the Federal Reserve Bank of Kansas City on Friday.

The report said the month-over-month services composite index climbed to a positive 12 in February from a negative 2 in January.

A positive reading by the composite index, which is a weighted average of the revenue/sales, employment, and inventory indexes, indicates growth.

The Kansas City Fed said the increase by the index was driven primarily by growth in wholesale, retail, and transportation.