The survey from the Federal Reserve Bank of Richmond showed on Wednesday
that the U.S. fifth district's service sector activity was flat in December.
According to the survey, the service sector revenues index decreased
from 1 in November to 0 in December.
The survey, however, found a marginal increase in the demand index (to 2
this month, up from -1 in November). The employment index (to 5, up from 2 in November)
also rose slightly with firms reporting further wage increases (to 30, up from
25) and little change in their ability to find workers with the necessary
skills (to 3, up from 2).
In other survey results, expectations indexes for future revenue (13, up
from 8 in November), demand (21, up from -3) and employment (18, up from 14) improved.
On the price front, the average growth in prices paid (5.71, compared to
6.32) and prices (3.75, compared to 4.23) received decreased somewhat in
December, and are expected to moderate over the coming year.