The Richmond Fed's U.S. Services Revenue Index rose to +14 in May from +9, indicating business revenue growth reached its fastest pace since Dec 2024. The Richmond Fed Manufacturing Index registered 13 in May, the highest reading since Nov 2021. Considering the Iran war remains ongoing and other service‑sector surveys so far this month have been relatively muted, these Richmond Fed readings are notably strong.

2026-05-27

The Richmond Fed's U.S. Services Revenue Index rose to +14 in May from +9, indicating business revenue growth reached its fastest pace since Dec 2024. The Richmond Fed Manufacturing Index registered 13 in May, the highest reading since Nov 2021. Considering the Iran war remains ongoing and other service‑sector surveys so far this month have been relatively muted, these Richmond Fed readings are notably strong.