Retail producers' optimism remained buoyant through March, with the index moving up to 35, compared to 27 in February. The index of non-retail service firms' revenues trailed the parade in March, settling at 2. The wage index, however, jumped up to 21. Non-retail service producers remained fairly optimistic about their revenues in coming months, as that index slipped another 13 points to 16, compared to 33 in January. Prices Service sector prices rose a little more slowly in March, registering an annual rate of 1.46 percent compared to the 1.87 percent rate reported in February.
Respondents expect continued modest price increases in coming months.
In the next six months, they anticipate rates of 1.98 percent in services overall, 2.50 percent in retail sectors, and 1.37 percent for the non-retail sectors. All firms surveyed are located within the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.