达拉斯联邦储备银行得克萨斯州服务业的一般商业活动指数在2025年4月下降8.1点，至-19.4，为2023年10月以来的最低水平，表明商业状况进一步恶化。与此同时，衡量国有服务业状况的关键指标收入指数上升3点，至+3.8。劳动力市场指标显示就业疲软，就业指数从2.2降至-5.1，兼职就业指数从-1.7降至-3.4。此外，前景恶化，公司前景指数降至-15.5的34个月低点，前景不确定性指数飙升13点至40.5，为2022年中期以来的最高水平。价格压力加剧，销售价格指数升至8.4，投入价格从27.0攀升至32.5，而工资增长稳定在9.1。与此同时，未来一般商业活动指数从-1.1降至-16.0，而未来收入指数下降14点至16.8，为2020年年中以来的最低水平。

The Dallas Fed’s general business activity index for Texas services dropped 8.1 points to -19.4 in April 2025, the weakest since October 2023, signaling further deterioration in business conditions. Meanwhile, the revenue index, a key measure of state service sector conditions, rose 3 points to +3.8. Labor market indicators pointed to weakening employment, with the employment index dropping to -5.1 from 2.2, and the part-time employment index slipping to -3.4 from -1.7. Additionally, outlooks worsened, with the company outlook index falling to a 34-month low of -15.5 and the outlook uncertainty index surging 13 points to 40.5, the highest since mid-2022. Price pressures intensified, as the selling prices index rose to 8.4 and input prices climbed to 32.5 from 27.0, while wage growth remained steady at 9.1. Meanwhile, the future general business activity index slipped to -16.0 from -1.1, while the future revenue index dropped 14 points to 16.8, the lowest reading since mid-2020.