FX.co ★ US 5th District Service Sector Growth Slows

In September 2025, the Fifth District Survey of Service Sector Activity experienced a slowdown, as reported by the Federal Reserve Bank of Richmond. The revenue index saw a decline, moving to 1 from a previous 4, while the demand index also dropped to 3 from 13. Although future revenue and demand indexes decreased, they remained positive. Local business conditions took a downturn, with the index decreasing to -7 from 6, and the forecast for future local business conditions slipping to -2 from 11. Notably, the current employment index improved slightly, moving up to 0 from -1 in August; however, the forecast for employment waned, falling to 11 from 20. The wages index decreased to 17, yet businesses still anticipated raising wages in the following six months. September saw a minor decrease in the average growth rates for both prices paid and prices received. Over the next year, firms expected a slight increase in the growth of prices paid and a slight decrease in the growth of prices received.