The Fifth District Service Sector Survey indicated a fourth consecutive monthly contraction in activity in February 2026, the steepest in the current stretch, according to the Federal Reserve Bank of Richmond. The revenues index decreased to -8 from -3 and the demand index fell to -3 from 2. Expectations for future revenues (35 vs 34) and demand (28 vs 32) remained firmly in positive territory. The local business conditions index edged down to -10 from -6 in January, while the future local business conditions index rose to 16. The current employment index decreased to 0 in February from 5 in January, and the forward-looking employment index decreased to 15 from 20. The wages index inched down to 17 from 20 and firms continued to expect to increase wages over the next six months. The average growth in prices paid rose notably, while prices received edged up slightly. Firms expect price pressures on inputs to ease over the next 12 months, with prices received seen holding steady. source: Federal Reserve Bank of Richmond

Richmond Fed Services Index in the United States decreased to -8 points in February from -3 points in January of 2026. Richmond Fed Services Index in the United States averaged 5.96 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 March of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-27 03:00 PM
Richmond Fed Services Revenues Index
Jan -3 -6 -2
2026-02-24 03:00 PM
Richmond Fed Services Revenues Index
Feb -8 -3
2026-03-24 02:00 PM
Richmond Fed Services Revenues Index
Mar -8


Related Last Previous Unit Reference
Dallas Fed Services Index -3.20 2.70 points Feb 2026
NY Fed Services Activity Index -25.70 -16.10 points Feb 2026
Richmond Fed Manufacturing Index -10.00 -6.00 points Feb 2026
Richmond Fed Manufacturing Shipments Index -13.00 -5.00 points Feb 2026
Richmond Fed Services Index -8.00 -3.00 points Feb 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
-8.00 -3.00 33.00 -87.00 1993 - 2026 points Monthly
SA

News Stream
US 5th District Service Sector Contracts For 4th Month
The Fifth District Service Sector Survey indicated a fourth consecutive monthly contraction in activity in February 2026, the steepest in the current stretch, according to the Federal Reserve Bank of Richmond. The revenues index decreased to -8 from -3 and the demand index fell to -3 from 2. Expectations for future revenues (35 vs 34) and demand (28 vs 32) remained firmly in positive territory. The local business conditions index edged down to -10 from -6 in January, while the future local business conditions index rose to 16. The current employment index decreased to 0 in February from 5 in January, and the forward-looking employment index decreased to 15 from 20. The wages index inched down to 17 from 20 and firms continued to expect to increase wages over the next six months. The average growth in prices paid rose notably, while prices received edged up slightly. Firms expect price pressures on inputs to ease over the next 12 months, with prices received seen holding steady.
2026-02-24
US 5th District Service Sector Downturn Eases Slightly
The Fifth District Service Sector Survey revealed a third consecutive monthly contraction in activity in January 2026, albeit at a slower pace, according to the Federal Reserve Bank of Richmond. The revenues index inched up to -3 from -6, while the demand index increased to 2 from -3. The current employment index was unchanged at 5 in January, while the forward-looking employment index rose to 20 from 14. The wages index increased slightly to 20 from 17 and firms continued to expect to increase wages over the next six months. Average prices paid declined noticeably in January, while prices received increased modestly. Firms expect price growth to remain broadly stable over the next 12 months. Meanwhile, expectations strengthened, with future revenue and demand indexes moving further into positive territory. The local business conditions index increased slightly to -6 in January from -11 in December, while the future local business conditions index was unchanged at 7.
2026-01-27
US 5th District Service Sector Shrinks for 2nd Month
The Fifth District Service Sector Survey showed a second consecutive contraction in activity in December 2025, according to the Federal Reserve Bank of Richmond. The revenues index inched down to -6 from -4 while the demand index decreased to -3 from 4. Expectations for future revenues and demand remained solidly in positive territory. The local business conditions index increased slightly to -11 from -15 in November, and the future outlook inched up to 7 from 4. The current employment index increased to 5 in December from 1 in November, while the forward-looking index fell to 14 from 24. The wages index increased to 17 from 12 and firms continued to expect to increase wages over the next six months. Turning to prices, the average growth rate of prices paid increased notably in December, while growth in prices received ticked up. Firms expected growth in prices paid to moderate and growth in prices received to decrease slightly over the next 12 months.
2025-12-23