10:40 AM EDT, 08/27/2024 (MT Newswires) -- The Dallas Federal Reserve's monthly general business services index declined to a reading of minus 7.7 in August from minus 0.1 in July, indicating a faster pace of contraction in the sector.

The index is in line with the Philadelphia and Richmond Fed indexes but contrasts with the Kansas City and the S&P Global flash measures that pointed to expansion.

The reading for selling prices fell but remained above breakeven point while the readings for revenue, employment and input prices all increased and indicated expansion in the month.