FX.co ★ U.S. Richmond Services Index Slides Deeper Into Contraction in February

The U.S. Richmond Services Index deteriorated in February 2026, signaling a further weakening in regional service-sector activity. The index fell to -8 in February from -3 in January 2026, according to data updated on 24 February 2026.

The move deeper into negative territory suggests that more service businesses in the Richmond Federal Reserve district are reporting worsening conditions than improving ones. While the index was already in contractionary territory at the start of the year, the February reading points to mounting pressure on service providers as the first quarter progresses.

Market participants and analysts tracking regional activity may view the latest drop as an early sign of softer momentum in parts of the U.S. services economy, with potential implications for broader growth trends if the weakness persists in the coming months.