10.21.2009 Policy Points

Service Activity in the South Atlantic

From the Federal Reserve Bank of Richmond’s September survey of service-sector activity in the South Atlantic (District of Columbia, Maryland, North Carolina, South Carolina, Virginia and West Virginia):

Service sector activity remained soft in September, according to the latest survey by the Federal Reserve Bank of Richmond. The ongoing decline in retail sales slowed this month, and shopper traffic was down only slightly compared to a month earlier. In contrast, revenues dropped sharply at services firms. However, survey respondents remained optimistic about demand for their products and services over the next six months.

Service sector activity remained soft in September,
according to the latest survey by the Federal
Reserve Bank of Richmond. The ongoing decline
in retail sales slowed this month, and shopper
traffic was down only slightly compared to a month
earlier. In contrast, revenues dropped sharply at
services firms. However, survey respondents
remained optimistic about demand for their
products and services over the next six months.
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