10:43 AM EDT, 07/29/2024 (MT Newswires) -- The Dallas Fed's monthly manufacturing index fell to a reading of minus 17.5 in July from minus 15.1 in June, compared with expectations for a smaller decrease to a reading of minus 15.5 in a survey compiled by Bloomberg as of 7:35 am ET.

The reading indicates a faster pace of contraction in the sector, which is in line with the Empire, Richmond, Kansas and the S&P Global flash measures but contrasts with the Philadelphia Fed Index that pointed to expansion.

For Dallas, there were declines in the readings for production, shipments and new orders, but increases in the readings for employment and prices paid.

The reading for the company outlook decreased to minus 18.4 from minus 6.9 in June.