“Service sector activity strengthened in November, boosted by improvement in the retail subsector,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.
Overall, the service sector revenues index reversed to positive 6 in November from negative 8 in October, while the number of employees index fell to negative 2 from zero, the average wage index slid to 5 from 15, and the expected product demand during the next six months index increased to 11 from zero.