South By North Strategies, Ltd.

From the Federal Reserve Bank of Richmond’s latest survey of service-sector activity in the South Atlantic (District of Columbia, Maryland, North Carolina, South Carolina, Virginia and West Virginia):

Fifth District service sector activity improved in April, according to the latest survey by the Federal Reserve Bank of Richmond. Growth in retail sales picked up while retail inventories continued to decline. Although big-ticket sales slumped, shopper traffic rose this month. Revenue growth also returned at non-retail services firms. Price change in the broad service sector ticked up slightly.
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In service sector labor markets, non-retail firms were hiring again while retail job cuts continued. Average wages grew moderately across the sector.