Fifth District Survey of Service Sector Activity

Nov. 28, 2017 10 a.m.

Fifth District Service Sector Firms Reported Positive Growth in November

Overview

According to the latest survey by the Federal Reserve Bank of Richmond, Fifth District service sector firms continued to see strong growth in November. The overall revenues index jumped from 24 to 30 in November, buoyed by an increase in revenues for service firms. However, the revenues indicator dropped for retail firms, but it remained positive at 26.

Growth in employment and wages was observed by firms across the service sector, and firms remained optimistic that growth in demand would continue in the coming months.

District services firms reported higher price growth in November and expect it to remain fairly stable in coming months. Conversely, retail firms observed slightly softer growth in prices in November but expect it to increase in the next six months.

Service Sector

Index Table

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