The Richmond Fed Fifth District Service Sector Survey was flat in September 2026, with the revenues index rising to 0 from -8, while the demand index inched down to 2 from 3. Current business conditions improved, with the local business conditions index rising to -8 in September from -12 in August, while the future conditions index fell to 0 from 9. The current employment index fell to 2 in September from 8 in August, while the forward-looking employment index edged lower but remained positive. Wage expectations were also resilient, with both current and future wage indexes staying in positive territory. On prices, the average growth rate of prices paid by firms moderated somewhat in September, while growth in prices received picked up. Over the next 12 months, firms expected growth in prices paid to remain broadly stable, while anticipating a slight moderation in prices received.