The Fifth District Survey of Service Sector Activity slowed somewhat in September 2025, according to the most recent survey by the Federal Reserve Bank of Richmond. The revenues index edged down to 1 from 4 and the demand index fell to 3 from 13 in September. The indexes for future revenues and demand decreased but remained in positive territory in September. The local business conditions index fell to -7 from 6 in September. The future local business conditions index decreased to -2 from 11.The current employment index inched up to 0 in September from -1 in August, while the forward-looking index decreased to 11 from 20. The wages index fell to 17 and firms continued to expect to increase wages over the next six months. The average growth rates of prices paid and prices received decreased slightly in September. Firms expected growth in prices paid to increase slightly and expected growth in prices received to decrease slightly over the next 12 months.
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