The Service Sector Activity Index in the US fifth district eased to 8 in May of 2022 from 13 in the previous month. The demand index fell to 10 from 24 in the prior month, and local business conditions swung to -5 from 4. Still, the employment index rose to 17 from 9 in April. source: Federal Reserve Bank of Richmond

Richmond Fed Services Index in the United States averaged 7.19 points from 1993 until 2022, 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 May of 2022.

Richmond Fed Services Index in the United States is expected to be 10.00 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 -9.00 14.00 points May 2022
Richmond Fed Services Index 8.00 13.00 points May 2022
Richmond Fed Manufacturing Shipments -14.00 17.00 points May 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
8.00 13.00 34.00 -76.00 1993 - 2022 points Monthly
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News Stream
US 5th District Service Sector Activity Eases in May
The Service Sector Activity Index in the US fifth district eased to 8 in May of 2022 from 13 in the previous month. The demand index fell to 10 from 24 in the prior month, and local business conditions swung to -5 from 4. Still, the employment index rose to 17 from 9 in April.
2022-05-24
Fifth District Service Sector Activity Expands in December
The Service Sector Activity Index in the US fifth district rose to +12.0 in December 2021 from +8 in the previous month. The demand index increased by 8 points to +21 and the employment index remained in expansionary territory at +14. Earnings continued to grow at a solid pace, with firms saying they expect to continue increasing wages in the next six months. On the other hand, service providers continued to report trouble finding workers with the necessary skills, and don't expect the difficulty to ease in the near term. On the price front, survey respondents expected the growth of both prices paid and prices received to slow in the next 12 months.
2021-12-28
Fifth District Services Index Falls in November
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.
2021-11-23