11:08 AM EDT, 06/27/2024 (MT Newswires) -- The Kansas City Fed monthly manufacturing index decreased to a reading of minus 8 in June from minus 2 in May, below expectations for a smaller drop to a minus 5 print in a survey compiled by Bloomberg as of 7:50 am ET.

The reading indicates faster contraction, which is in line with the readings from the Empire State, Dallas and Richmond Fed released earlier but contrasts with the readings from Philadelphia Fed and S&P Global flash indexes that indicated expansion.

The ISM's national manufacturing reading will be released on July 1.

Within the Kansas City data, there were index declines for production, shipments, the number of employees and prices paid, though the prices paid reading remained above breakeven point. The new orders reading held steady at minus 13.