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,"November 25, 2008",,,,,,,,,,,,,,,,,,,,,,,,
,,,,,,,,Fifth District,,,,,,,,,,,,,,,,,
,,,,,,,,Service Sector Activity,,,,,,,,,,,,,,,,,
,,,,,,,,Federal Reserve Bank of Richmond,,,,,,,,,,,,,,,,,
,Each index equals the percentage of responding firms reporting increase minus the percentage reporting decrease.  All data are seasonally adjusted.  Results are based on responses from 102 of 147 firms surveyed,,,,,,,,,,,,,,,,Each index equals the percentage of responding firms reporting increase minus the percentage reporting decrease.  All data are seasonally adjusted.  Results are based on responses from 102 of 188 firms surveyed,,,,,,,,
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,,Business activity indexes,,,,,,,,,,,,,,,,,,HTML SECTIONS,,,,,
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,,,,,,November,October,September,"3-Month 
Average",,,,,MONTHS MUST BE TYPED ON,,,,,,,,,,,
,,,Service-Sector Indicators    ,,,,,,,,,,,BRANDED TABLE!!,,,,,Table Section1,,,,,,
,,,Revenues,,,-22,-10,-15,-16,,,,,,,,,,,Revenues,-22,-10,-15,-16,
,,,Number of employees,,,-17,-15,-9,-14,,,,,,,,,,,Number of employees,-17,-15,-9,-14,
,,,Average wage,,,6,6,8,7,,,,,,,,,,,Average wage,6,6,8,7,
,,,"Product demand during 
        next six months",,,-2,2,15,5,,,,,,,,,,,"Product demand during 
        next six months",-2,2,15,5,
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,,,Retail Indicators,,,,,,,,,,,,,,,,Table Section2,,,,,
,,,Sales revenues,,,-35,-18,-30,-28,,,,,,,,,,,Sales revenues,-35,-18,-30,-28
,,,Number of employees,,,-32,-29,-23,-28,,,,,,,,,,,Number of employees,-32,-29,-23,-28
,,,Average wage,,,-10,-1,3,-2,,,,,,,,,,,Average wage,-10,-1,3,-2
,,,Inventories,,,-23,-23,-4,-17,,,,,,,,,,,Inventories,-23,-23,-4,-17
,,,Big-ticket sales,,,-63,-36,-43,-48,,,,,,,,,,,Big-ticket sales,-63,-36,-43,-48
,,,Shopper traffic,,,-44,-32,-30,-35,,,,,,,,,,,Shopper traffic,-44,-32,-30,-35
,,,"Product demand during 
        next six months",,,-14,25,14,8,,,,,,,,,,,"Product demand during 
        next six months",-14,25,14,8
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,,,Services Firms Indicators,,,,,,,,,,,,,,,,Table Section3,,,,,
,,,Revenues,,,-15,-8,-12,-12,,,,,,,,,,,Revenues,-15,-8,-12,-12
,,,Number of employees,,,-14,-11,-3,-9,,,,,,,,,,,Number of Employees,-14,-11,-3,-9
,,,Average wage,,,10,8,12,10,,,,,,,,,,,Average wage,10,8,12,10
,,,"Product demand during 
        next six months",,,0,-7,18,4,,,,,,,,,,,"Product demand during 
        next six months",0,-7,18,4
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,,Price trends,,,,,,,,,,,,,,,,,,,,,
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,,,"(percent change, annualized)",,,,November,October,September,,,,,,,,,,,,,,
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,,,   Current trends    ,,,,,,,,,,,,,,,,Table Section4,,,,
,,,Service Sector,,,,0.80,1.10,1.26,,,,,,,,,,,Services,0.80,1.10,1.26
,,,Retail,,,,1.87,1.87,2.17,,,,,,,,,,,Retail,1.87,1.87,2.17
,,,Services Firms,,,,0.33,0.72,0.85,,,,,,,,,,,"Services, excluding retail",0.33,0.72,0.85
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,,,   Expected trends during next six months    ,,,,,,,,,,,,,,,,Table Section5,,,,
,,,Service Sector,,,,1.78,1.88,1.70,,,,,,,,,,,Services,1.78,1.88,1.70
,,,Retail,,,,2.49,3.09,2.68,,,,,,,,,,,Retail,2.49,3.09,2.68
,,,Services Firms,,,,1.53,1.39,1.26,,,,,,,,,,,"Services, excluding retail",1.53,1.39,1.26
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,,"All firms surveyed are located within the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.",,,,,,,,,,
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,,"See page 1 for text.  For further information, contact:",,,,,,,,,,
,,"Aileen Watson, phone (804)697-7995; fax (804) 697-8123; Federal Reserve Bank of Richmond; Research Department-22; P.O. Box 27622; Richmond, VA 23261; e-mail: Aileen.Watson@rich.frb.org",,,,,,,,,,
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