The Richmond Fed Services Revenues index rose to -4 in June (from -11 in May), suggesting a slower contraction in Fifth District service sector activity, while the Demand index improved marginally to -7 (from -8).

• Local Business Conditions improved slightly to -16 (from -18), and expectations rose to -11 (from -18).
• Employment increased to 3 (from 0), and future hiring expectations rose to 14 (from 11).
• Wages eased slightly to 19 (from 20), with firms still expecting strong wage growth (39).
• Prices Paid edged up to 5.17% (from 4.97%), and Prices Received rose to 3.15% (from 3.01%), with expectations remaining steady near 5.17% and 3.91%, respectively.