The Richmond Fed Services Index is a monthly survey-based indicator that measures business activity in the service sector within the Fifth Federal Reserve District. The survey covers various industries, including retail, healthcare, and professional services, providing a snapshot of current conditions and future expectations. It is considered a leading indicator for the broader U.S. services sector and often correlates with national ISM data. A reading above zero indicates expansion, while a reading below zero indicates contraction.
The index is a diffusion index calculated by taking the percentage of responding firms reporting an increase and subtracting the percentage reporting a decrease. The survey results are seasonally adjusted to account for predictable variations.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Aug 25, 2026 | -8.00 | -1.00 | -7.00 |
| Jul 28, 2026 | -3.00 | -2.00 | -1.00 |
| Jun 23, 2026 | 0.00 | 11.00 | -11.00 |
| May 27, 2026 | 14.00 | 8.00 | +6.00 |
| Apr 28, 2026 | 9.00 | 11.00 | -2.00 |
| Jan 28, 2025 | 4.00 | 21.00 | -17.00 |
| Aug 27, 2024 | -11.00 | 4.00 | -15.00 |
| Jul 23, 2024 | 5.00 | -9.00 | +14.00 |
| Jun 25, 2024 | -11.00 | 2.00 | -13.00 |
| May 29, 2024 | 3.00 | -12.00 | +15.00 |
| Apr 23, 2024 | -13.00 | -5.00 | -8.00 |
| Mar 26, 2024 | -7.00 | -12.00 | +5.00 |
| Feb 27, 2024 | -16.00 | 7.00 | -23.00 |
| Jan 23, 2024 | 4.00 | -5.00 | +9.00 |
| Dec 27, 2023 | 0.00 | 1.00 | -1.00 |
| Nov 28, 2023 | 1.00 | -12.00 | +13.00 |
| Oct 24, 2023 | -11.00 | 1.00 | -12.00 |
| Sep 26, 2023 | 4.00 | 3.00 | +1.00 |
| Aug 22, 2023 | 4.00 | -4.00 | +8.00 |
| Jul 25, 2023 | -2.00 | 1.00 | -3.00 |
| Jun 27, 2023 | -3.00 | 7.00 | -10.00 |
| May 23, 2023 | -10.00 | -29.00 | +19.00 |
| Apr 25, 2023 | -23.00 | 2.00 | -25.00 |
| Mar 28, 2023 | -17.00 | 3.00 | -20.00 |
| Feb 28, 2023 | -3.00 | -4.00 | +1.00 |
| Jan 24, 2023 | -6.00 | -8.00 | +2.00 |
| Dec 28, 2022 | -12.00 | 1.00 | -13.00 |
| Nov 22, 2022 | -2.00 | 3.00 | -5.00 |
| Oct 25, 2022 | -8.00 | 2.00 | -10.00 |
| Aug 23, 2022 | -12.00 | -8.00 | -4.00 |
| Jul 26, 2022 | -13.00 | 2.00 | -15.00 |
| May 24, 2022 | 8.00 | 11.00 | -3.00 |
| Apr 26, 2022 | 13.00 | 5.00 | +8.00 |
| Mar 22, 2022 | 9.00 | 10.00 | -1.00 |
| Feb 22, 2022 | 11.00 | 8.00 | +3.00 |
| Jan 25, 2022 | 4.00 | 13.00 | -9.00 |
| Dec 28, 2021 | 12.00 | 6.00 | +6.00 |
| Nov 23, 2021 | 8.00 | 11.00 | -3.00 |
| Oct 26, 2021 | 9.00 | — | — |
| Date | First print | Current | Revision |
|---|---|---|---|
| Jun 23, 2026 | -1 | 0 | +1 ↑ |
