Fifth District Survey of Service Sector Activity

Sept. 26, 2017 10 a.m.

Fifth District Service Sector Firms Remained Upbeat in September

Overview

Reports from the Fifth District service sector remained generally upbeat in September, according to the latest survey by the Federal Reserve Bank of Richmond.

The revenues index held steady at a relatively high level of 22 in September. The index for expected demand also rose from 40 to 45 in September, which was one of the highest readings of that index in the last few years.

Although service sector labor reports remained positive, readings softened slightly in September. The employment index edged down from 22 to 20 and the wage index declined from 23 to a reading of 21.

According to our survey measures, price growth softened slightly in the overall service sector in September, with firming retail price growth offset by a decline in the average price growth reported by services firms.

Charts

Index Table

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