11:11 AM EDT, 07/26/2024 (MT Newswires) -- The Kansas City Federal Reserve's monthly composite services index fell further to a reading of minus 4 in July after declining to 2 in June.

A reading above zero indicates growth, while a negative reading indicates contraction.

The index is in line with the Philadelphia Fed index but contrasts with the Richmond Fed and the S&P Global flash readings that indicated expansion.

There was a sharp decline in the Kansas City revenue/sales reading to minus 16 from 4, while the employment reading rose to 10 from minus 4.

The reading of selling prices rose to 0 from minus 5, while the input price index decreased to 19 from 27, still remained in positive territory.