The Service Sector Activity Index in the US fifth district including the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia decreased to 8 in November of 2021 from 9 in the previous month. The index for demand also remained in expansionary territory at 16, down slightly from 18 in October. Survey results indicated that many service sector firms increased employment and wages in November, but they struggled to find workers with the necessary skills. Survey respondents expected this challenge to persist and employment and wages to grow further in the coming months. The average growth rate of prices paid by survey participants declined in November, while that of prices received increased, but growth of prices paid continued to outpace that of prices received. Survey respondents expected growth of both prices paid and prices received to slow in the next 12 months. source: Federal Reserve Bank of Richmond
Richmond Fed Services Index in the United States averaged 7.15 points from 1993 until 2021, reaching an all time high of 34 points in May of 2021 and a record low of -76 points in April of 2020. This page includes a chart with historical data for the United States Richmond Fed Services Index. United States Richmond Fed Services Index - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
Fifth District Services Index Falls in November
US 5th District Services Index Bounces Back in October
United States Richmond Fed Services Index
The data come from the Fifth District Survey of Service Sector Activity. Respondents to the survey are firms located within the Fifth Federal Reserve District which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia. Respondents indicate whether measures of activity rose, were unchanged, or decreased since the last survey. The responses are converted into diffusion indexes by subtracting the percentage of reported decreases from the percentage of increases.