Activity in the US Fifth District’s service sector weakened somewhat in August, with the revenues index declining to -8 from -3 in July, while the demand measure eased to 3 from 5. Local business conditions also deteriorated (-12 from -5). The current employment index rose to 8 from 4, while expectations for future hiring remained strong. Wage growth also continued, according to both current and forward-looking measures. Meanwhile, price pressures showed some renewed momentum. The pace of increase in prices paid by firms accelerated slightly, while prices received also continued to rise. Businesses nevertheless expect input price growth to moderate over the coming year, although they anticipate little change in the pace of price increases charged to customers. Looking ahead, firms remained relatively optimistic, as expectations for future revenues, demand and local conditions stayed firmly positive. source: Federal Reserve Bank of Richmond

Richmond Fed Services Index in the United States decreased to -8 points in August from -3 points in July of 2026. Richmond Fed Services Index in the United States averaged 5.92 points from 1993 until 2026, reaching an all time high of 33.00 points in November of 1997 and a record low of -87.00 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 Revenues Index - data, historical chart, forecasts and calendar of releases - was last updated on September of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-28 02:00 PM
Richmond Fed Services Revenues Index
Jul -3 0 -2
2026-08-25 02:00 PM
Richmond Fed Services Revenues Index
Aug -8 -3 -1
2026-09-22 02:00 PM
Richmond Fed Services Revenues Index
Sep -8


Related Last Previous Unit Reference
Dallas Fed Services Index 4.20 6.60 points Aug 2026
NY Fed Services Activity Index 0.50 8.70 points Aug 2026
Richmond Fed Manufacturing Index 4.00 5.00 points Aug 2026
Richmond Fed Manufacturing Shipments Index 11.00 8.00 points Aug 2026
Richmond Fed Services Index -8.00 -3.00 points Aug 2026


United States Richmond Fed Services Revenues 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 -3.00 33.00 -87.00 1993 - 2026 points Monthly
SA

News Stream
US Fifth District Services Activity Slowed in August
Activity in the US Fifth District’s service sector weakened somewhat in August, with the revenues index declining to -8 from -3 in July, while the demand measure eased to 3 from 5. Local business conditions also deteriorated (-12 from -5). The current employment index rose to 8 from 4, while expectations for future hiring remained strong. Wage growth also continued, according to both current and forward-looking measures. Meanwhile, price pressures showed some renewed momentum. The pace of increase in prices paid by firms accelerated slightly, while prices received also continued to rise. Businesses nevertheless expect input price growth to moderate over the coming year, although they anticipate little change in the pace of price increases charged to customers. Looking ahead, firms remained relatively optimistic, as expectations for future revenues, demand and local conditions stayed firmly positive.
2026-08-25
Richmond Fed Services Index Remains Flat in July
The Richmond Fed Fifth District Service Sector Survey was broadly unchanged in July 2026, marking a second consecutive month of flat activity. The revenues index slipped to -3 from 0, while the demand index edged up to 5 from 4. Current local business conditions improved slightly to -5 from -7, although expectations weakened, with the future business conditions index falling to 9 from 16. Employment growth moderated, as the current employment index declined to 4 from 8, while the forward-looking employment gauge was little changed at 23, pointing to continued hiring plans. Wage growth remained firm, with both current and expected wage indexes staying in positive territory. Price pressures eased slightly, as the growth rate of prices paid slowed, while prices received rose marginally. Firms expect both measures to moderate further over the next 12 months.
2026-07-28
Richmond Fed Services Index Weakens
The Richmond Fed Fifth District Service Sector Survey was flat in June 2026, with the revenues index falling to -1 from 14 and the demand index declining to 3 from 15. Local business conditions also weakened, with the index dropping to -9 from 0 in May. Despite softer current activity, expectations remained resilient, as the indexes for future revenues and demand stayed firmly in positive territory. The future local business conditions index rose to 15. Labor market conditions improved, with the current employment index increasing to 8 from -1, while the forward-looking employment index held steady at 24. Both current and expected wages remained firmly positive. On prices, firms reported slightly faster growth in prices paid, while price growth received was little changed. Over the next 12 months, businesses expect slower growth in input costs and a slight pickup in prices received.
2026-06-23