10:42 AM EDT, 05/28/2024 (MT Newswires) -- The Dallas Fed's monthly manufacturing index fell to a reading of minus 19.4 in May from minus 14.5 in April, compared with expectations for an increase to a reading of minus 12.5 in a survey compiled by Bloomberg as of 7:35 am ET.

The reading indicates faster contraction, which is in line with the readings from Empire and Kansas City but contrasts with the Philadelphia Fed and the S&P Global Flash Indexes that indicated expansion.

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

The reading for the company outlook decreased to minus 13.4 from minus 6.3 in April.