11:13 AM EDT, 08/23/2024 (MT Newswires) -- The Kansas City Federal Reserve's monthly composite services index rose to a reading of 5 in August after falling to minus 4 in July, suggesting a return to expansion in the sector.

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

The index is in line with the S&P Global flash index but contrasts with the Philadelphia Fed index that indicated contraction.

There was a sharp increase in the Kansas City revenue/sales reading to 17 from minus 16, while the employment reading fell to minus 9 from 10.

The reading of selling prices rose to 10 from zero, while the input price index rose to 22 from 19.