Fifth District Survey of Service Sector Activity

Oct. 24, 2017 10 a.m.

Fifth District Service Sector Firms Reported Strong Growth in October

Overview

According to the latest survey by the Federal Reserve Bank of Richmond, District firms continued to see growth in October, with a slight increase in the revenues index to 24 from 22 in September. The service sector employment and wage indexes also pointed to growth. Although the overall service sector employment index dipped in October, the retail employment index rose from 20 to 24.

After months of increases, District service sector firms expect to see even more growth in demand in the next six months.

Both retail and service firms reported increased price growth in October and expect this trend to continue in coming months.

Charts

Index Table

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Regional Survey Team
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