The Service Sector Activity Index in the US fifth district stagnated in September of 2022 from -12 in the previous month. The demand index rebounded to 5 from -11 in August, while capital expenditures rose to 14 from 13 and equipment and software spending rose to 14 from 12. At the same time, the gauge measuring number of employees rose to 11 from 10 in the prior month, but availability of skills needed tanked further to -15 from -5. source: Federal Reserve Bank of Richmond

Richmond Fed Services Index in the United States averaged 6.98 points from 1993 until 2022, reaching an all time high of 34 points in November of 2017 and a record low of -87 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 September of 2022.

Richmond Fed Services Index in the United States is expected to be 9.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Richmond Fed Services Index



Related Last Previous Unit Reference
Richmond Fed Manufacturing Index 0.00 -8.00 points Sep 2022
Richmond Fed Services Index 0.00 -12.00 points Sep 2022
Richmond Fed Manufacturing Shipments 14.00 -8.00 points Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 -12.00 34.00 -87.00 1993 - 2022 points Monthly
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News Stream
US 5th District Service Sector Activity Unchanged in September
The Service Sector Activity Index in the US fifth district stagnated in September of 2022 from -12 in the previous month. The demand index rebounded to 5 from -11 in August, while capital expenditures rose to 14 from 13 and equipment and software spending rose to 14 from 12. At the same time, the gauge measuring number of employees rose to 11 from 10 in the prior month, but availability of skills needed tanked further to -15 from -5.
2022-09-27
US 5th District Service Sector Activity Remains Sluggish
The Service Sector Activity Index in the US fifth district rose marginally to -12 in August of 2022 from -13 in the previous month, but still close to low levels last seen in July of 2020. The revenues index increased slightly to -12 but remained well below 0, while the demand index decreased to -11 from -6. Firms' assessments of local business conditions improved from July, but remained well below 0 with a reading of -18 in August. Moreover, firms were considerably less pessimistic about future business conditions, as the expected business conditions index rose to -18 from -31. Results also showed more survey respondents increased hiring in August and their ability to find workers with the necessary skills continued to improve from its June level. Firms expect further improvement in skills availability in the next six months, but they also expect wages to remain elevated. In addition to increasing wage pressures, growth in prices paid and prices received increased in August.
2022-08-23
US Fifth District Service Sector Activity Deteriorates Sharply
The Service Sector Activity Index in the US fifth district fell to -13 in July of 2022 from a flat reading in the previous month. It was the lowest reading since July 2020, with the revenues and demand indexes decreasing to -13 and -6 in July from 0 and 3 in June, respectively. Meantime, firms were way less optimistic about their business conditions for the next six months.
2022-07-26