Service Businesses Getting Less Optimistic

The Federal Reserve Bank in Dallas sees some signs that the Texas economy could be softening. The Dallas Fed’s monthly report on service businesses shows a decline in expectations about business growth.

Dallas Fed economist Jesus Canas says that there’s less optimism among service business owners than there was a year ago, and that’s mostly because of conditions in the national economy.

“It’s kind of related to the uncertainty that’s in the business sector community about how health care costs are going to impact their business in the future,” Canas said.

He says many survey respondents were concerned that higher federal payroll taxes were leaving workers with less take-home pay and less money to spend on things like restaurants.