That sounds like a perfect Business suit - meet the client, go for a job interview. Sorry, its not Formal wear at all. A black cocktail dress or long length fancy dress or sparkly pants outfit even velvet emsemble will be fine. Something you would wear to the company Christmas or New Years party or to a fancy wedding.
hmmm this is interesting. Seems a bit of a double standard going on here. Its perfectly ok for a man to wear a business suit on formal night, but some of you think that a woman in a suit is not dressy enough. BTW the suit has a shorter skirt with a slit in it. (not what i would consider business wear) I wear it with a dressy silk or sparkly bouse to make it more on the dressy side.
You do see that on formal nights. It seems to go by age. The young go very formal. Thirty's and fortie's the "little black dress." Over fifty seems to go for what I call "church" dresses or suits. Ofcourse there are exceptions- if you don't want to dress up a lot-why not buy a pretty dress with sequeins-there are plenty out there that are not really formal but still look extra nice. If you have a Dillards close by-I have found they usually put their formal wear on clearance after only about 3 months-I have bought some great stuff there for like 25% of the orginal price.
But you can get away with your outfit-you will see others and that is much nicer then some folks who come in wearing jeans and a tank top-who are allowed in the dinningroom as wear is just "suggested".