“Activity in the service sector was mixed in February, as the retail segment remained weak while activity at services firms strengthened,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released yesterday.

“Retail sales pulled back sharply for a second month behind continued weakness in big-ticket categories. Shopper traffic also dropped off, and retailers reduced their inventories further,” the survey said. “In contrast, revenues at services-providing firms rebounded in February. Looking ahead six months, survey respondents were more optimistic about their business prospects.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.