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Dallas Fed Services Index Rises in May, Still Indicates Contraction

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The Dallas Federal Reserve's monthly general business services index rose to a reading of minus 7.7 in May from minus 9.9 in April, below an expected reading of minus 6.0 and indicating less widespread contraction.

There were decreases in the readings for employment, wages, input prices and selling prices.

This is the final regional services reading for the month, with the previous releases mixed in direction.

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