11:09 AM EDT, 05/24/2024 (MT Newswires) -- The Kansas City Federal Reserve's monthly composite services index rose to a reading of 11 in May after increasing to 9 in April.

A reading above zero indicates growth.

The index indicates expansion in the sector which is in line with the S&P Global flash index but in contrast with the Philadelphia Fed reading that indicated contraction

There was a increase in the Kansas City revenue/sales reading to 7 from 5, while the employment reading rose to 18 from 6.

The reading of selling prices fell to 4 from 11, while the input price index fell to 33 from 35.