10:41 AM EDT, 08/26/2024 (MT Newswires) -- The Dallas Fed's monthly manufacturing index rose to a reading of minus 9.7 in August from minus 17.5 in July, compared with expectations for a much smaller increase to a reading of minus 16.0 in a survey compiled by Bloomberg as of 7:45 am ET.

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

For Dallas, there were gains in the readings for production, shipments, new orders and prices paid, though new orders remained in negative territory. The employment reading decreased to now indicate modest contraction.

The reading for the company outlook increased to minus 9.6 from minus 18.4 in July.