Service Sector Optimistic in Mid-Atlantic States

Service sector business owners in the Federal Reserve's Fifth District reported improved economic activity in November 2024. They were also optimistic about service activity in the next six months. In the Federal Reserve Bank of Richmond's service sector survey, the Bank reported that -

• the indexes for future service sector revenues and demand increased further into positive territory as most firms expect improvements in these areas over the next six months;

• the service sector employment index fell in November while firms, on balance, continued to report wage increases. Over the next six months, firms expect increased hiring and anticipate little change in their ability to find workers with the necessary skills.

  
  

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