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.