The Fifth District Service Sector Survey revealed strong improvement in May 2026, with the revenues index rising to 14 from 9, its highest since December 2024, according to the Federal Reserve Bank of Richmond. The demand index also increased to 15 from 10. The indexes for future revenues and demand remained firmly in positive territory. The local business conditions index improved to 0 in May from -6 in April, while the future index rose to 12. The current employment index fell to -1 from 6, while the forward-looking employment index was broadly unchanged at 24. Both current and future wages indexes stayed in positive territory. The average growth rates of prices paid (5.4 vs 5.7) and received (3.4 vs 3.5) eased slightly. Firms expect growth in prices paid and received to slow a bit over the next 12 months. source: Federal Reserve Bank of Richmond

Richmond Fed Services Index in the United States increased to 14 points in May from 9 points in April of 2026. Richmond Fed Services Index in the United States averaged 5.99 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 May of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-28 02:00 PM
Richmond Fed Services Revenues Index
Apr 9 9 11
2026-05-27 02:00 PM
Richmond Fed Services Revenues Index
May 14 9 8
2026-06-23 02:00 PM
Richmond Fed Services Revenues Index
Jun 14


Related Last Previous Unit Reference
Dallas Fed Services Index -7.70 -9.90 points May 2026
NY Fed Services Activity Index -5.80 -14.00 points May 2026
Richmond Fed Manufacturing Index 13.00 3.00 points May 2026
Richmond Fed Manufacturing Shipments Index 16.00 -2.00 points May 2026
Richmond Fed Services Index 14.00 9.00 points May 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
14.00 9.00 33.00 -87.00 1993 - 2026 points Monthly
SA

News Stream
5th District Service Sector Growth Hits Near 1-1/2-Year High
The Fifth District Service Sector Survey revealed strong improvement in May 2026, with the revenues index rising to 14 from 9, its highest since December 2024, according to the Federal Reserve Bank of Richmond. The demand index also increased to 15 from 10. The indexes for future revenues and demand remained firmly in positive territory. The local business conditions index improved to 0 in May from -6 in April, while the future index rose to 12. The current employment index fell to -1 from 6, while the forward-looking employment index was broadly unchanged at 24. Both current and future wages indexes stayed in positive territory. The average growth rates of prices paid (5.4 vs 5.7) and received (3.4 vs 3.5) eased slightly. Firms expect growth in prices paid and received to slow a bit over the next 12 months.
2026-05-27
US Fifth District Services Stay Resilient
The Fifth District Service Sector Activity remained relatively solid in April, as the revenues index held steady at 9, while the demand index eased to 10 from 21 but stayed in positive territory, pointing to continued expansion. Expectations remained strong, with forward-looking indexes for both revenues and demand firmly positive. The local business conditions index slipped to -6 from 2, while the outlook index edged down slightly to 6. Employment conditions softened modestly, with the current index falling to 6 from 9, though the forward-looking measure rose to 25, signaling hiring optimism. Wage growth remained stable, and firms continued to expect increases, while price pressures picked up slightly but are seen easing ahead.
2026-04-28
US 5th District Service Sector Activity Expands in March
The Fifth District Service Sector Survey showed improvement in March 2026, easing from four consecutive monthly contractions in activity and marking the highest reading since March 2025, according to the Federal Reserve Bank of Richmond. The revenues index rose to 9 from -8 in February and the demand index improved to 21 from -3. Expectations for future revenues (36 versus 35) and demand (33 versus 28) remained firmly in positive territory. The local business conditions increased to 2 from -10 in February, while expectations for the future decreased to 9 from 16. The current employment index rose to 9 from 0 in February, and the forward-looking employment index rose (22 versus 15). The wages index edged up (19 versus 17) and firms continue to expect wage increases over the next six months. Average growth rates of prices paid and received decreased slightly. Over the next 12 months, firms expect growth in prices paid to decrease and growth in prices received to remain steady.
2026-03-24