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United States USD

United States Richmond Fed Services Revenues Index

Impact:
Low
Source: Federal Reserve Bank of Richmond

Latest Release:

Date:
Surprise:
1
Actual:
2
Forecast: 1
Previous/Revision:
-1
Period: Jul

Next Release:

Date:
Forecast: 1
Period: Aug
What Does It Measure?
The United States Richmond Fed Services Revenues Index measures the overall revenue performance of service-providing firms in the Richmond Federal Reserve District. It primarily focuses on the financial health of the services sector and assesses key areas such as sales trends, business outlook, and expectations for future revenues.
Frequency
This index is released on a monthly basis and typically provides a preliminary estimate that may be subject to revision in subsequent reports, usually published in the first week of each month.
Why Do Traders Care?
Traders closely monitor the Richmond Fed Services Revenues Index because it offers insights into the stability and growth of the services sector, which is a critical component of the U.S. economy. Positive results generally boost investor confidence, impacting equity prices and leading to a stronger U.S. dollar, while weaker outcomes can have adverse effects on market sentiment.
What Is It Derived From?
The index is derived from a survey conducted among service firms within the Richmond Fed District, which captures data on various aspects of service revenues. It employs a diffusion index methodology, where responses indicate the level of revenue changes, with the results weighted to reflect the proportion of businesses reporting increases versus those reporting decreases.
Description
The Richmond Fed Services Revenues Index represents a crucial barometer for economic activity in the services sector, showcasing trends in operational performance. The distinction between preliminary and final reports is vital; preliminary data reflects early estimates that inform immediate market responses, while final data, released later, represents a more accurate assessment and may lead to market adjustments.
Additional Notes
As a coincident economic measure, this index aligns with overall economic activity and economic growth trends in the U.S. Furthermore, it can be compared to other regional indices, providing context for performance relative to national trends and other sectors such as manufacturing.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for USD, Bullish for Stocks. Lower than expected: Bearish for USD, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Jul 22, 2025
2
 1
-1
 1
Jun 24, 2025
-4
 -10
-11
 6
May 28, 2025
-11
 -5
-7
 -6
Apr 22, 2025
-7
 -6
-4
 -1
Mar 25, 2025
-4
 3
11
 -7
Feb 25, 2025
11
 7
4
 4
Jan 28, 2025
4
 21
23
 -17
Dec 24, 2024
23
 7
9
 16
Nov 26, 2024
9
 5
3
 4
Oct 22, 2024
3
 -2
-1
 5
Sep 24, 2024
-1
 -3
-11
 2
Aug 27, 2024
-11
 4
5
 -15