10:08 AM EDT, 08/27/2024 (MT Newswires) -- The Richmond Fed's monthly manufacturing index declined to a reading of minus 19 in August from minus 17 in July, compared with expectations for an increase to minus 14 in a survey compiled by Bloomberg as of 7:35 am ET.

The index suggests a faster pace of contraction, which is in line with all the other manufacturing readings already released

Published at the same time, the services revenue index fell to minus 11 in August from 5 in July.

The services index indicates a return to contraction in the sector which is in line with the reading from the Philadelphia Fed but in contrast with the Kansas City and the S&P Global flash indexes that pointed to expansion.