11:10 AM EDT, 06/28/2024 (MT Newswires) -- The Kansas City Federal Reserve's monthly composite services index fell to a reading of 2 in June after rising to 11 in May.

A reading above zero indicates growth.

The index indicates a slower pace of expansion in the sector which is in line with the Philadelphia Fed and the S&P Global flash indexes but contrasts with the Dallas and Richmond Fed readings that indicated contraction.

There was a decrease in the Kansas City revenue/sales reading to 4 from 7, while the employment reading fell to minus 4 from 18.

The reading of selling prices declined to minus 5 from 4, while the input price index dropped to 27 from 33.