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. source: Federal Reserve Bank of Richmond

Richmond Fed Services Index in the United States increased to 9 points in March from -8 points in February of 2026. Richmond Fed Services Index in the United States averaged 5.97 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
2026-02-24 03:00 PM
Richmond Fed Services Revenues Index
Feb -8 -3
2026-03-24 02:00 PM
Richmond Fed Services Revenues Index
Mar 9 -8 -13
2026-04-28 02:00 PM
Richmond Fed Services Revenues Index
Apr 9


Related Last Previous Unit Reference
Dallas Fed Services Index -3.20 2.70 points Feb 2026
NY Fed Services Activity Index -22.60 -25.70 points Mar 2026
Richmond Fed Manufacturing Index 0.00 -10.00 points Mar 2026
Richmond Fed Manufacturing Shipments Index -2.00 -13.00 points Mar 2026
Richmond Fed Services Index 9.00 -8.00 points Mar 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
9.00 -8.00 33.00 -87.00 1993 - 2026 points Monthly
SA

News Stream
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
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