11:11 AM EST, 02/29/2024 (MT Newswires) -- The Kansas City Fed monthly manufacturing index rose to a reading of minus 4 in February from minus 9 in January, a smaller increase than the expectations for a minus 2 print in a survey compiled by Bloomberg as of 7:35 am ET.

The reading still indicates contraction, which is in line with the Empire, Dallas, Richmond and Chicago manufacturing indexes but in contrast with the readings from Philadelphia Fed and the S&P Global Flash Index that indicated expansion.

The ISM's national manufacturing reading is scheduled to be released on Friday.

Within the Kansas City data, there were index gains for production, shipments, new orders and the number of employees, though new orders remained below the breakeven point. The prices paid reading declined but still remained above the breakeven point.