The U.S. Richmond Services Index weakened further in July 2026, signaling a deeper contraction in the regional services sector. The index fell to -3 in July from -1 in June 2026, according to data updated on 28 July 2026.
The move from -1 to -3 suggests that service-sector activity in the Richmond Federal Reserve district has softened modestly, with more respondents reporting declines than increases in business conditions. While the deterioration is not sharp, the negative reading underscores ongoing headwinds for services businesses in the region at the start of the third quarter.
