11:11 AM EDT, 03/28/2024 (MT Newswires) -- The Kansas City Fed monthly manufacturing index declined to a reading of minus 7 in March from minus 4 in February, below expectations for no change in a survey compiled by Bloomberg as of 7:40 am ET.

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

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

Within the Kansas City data, there were index declines for production, shipment, new orders and the number of employees, though only the employment reading among these remained above the breakeven point. The prices paid reading increased.