The Richmond Fed Nonmanufacturing Revenues Index fell to -8 in February (Jan: -3), pointing to weaker service-sector activity.

• Demand slipped to -3 (Jan: 2) and local business conditions declined to -10 (Jan: -6), indicating broader softening in current conditions.

• Capital expenditures remained negative at -9 (Jan: -5) and services expenditures at -7 (Jan: -9), showing continued restrained business spending.

• Employment fell to 0 (Jan: 5) while forward employment expectations eased to 15 (Jan: 20), suggesting slower hiring momentum but still positive outlook.

• Wages edged down to 17 (Jan: 20), though firms still expect compensation increases over the next six months.

• Future revenues registered 35 and future demand 28, remaining firmly positive and signaling expectations for activity growth ahead.

• Prices paid growth increased to 5.16 (Jan: 4.29) and prices received rose slightly to 3.47 (Jan: 3.36), indicating higher input cost pressures with modest pass-through.

• Firms expect prices paid growth to decrease and prices received growth to remain steady over the next 12 months, pointing to moderating inflation pressures ahead.