11:04 AM EDT, 05/23/2024 (MT Newswires) -- The Kansas City Fed monthly manufacturing index rose to a reading of minus 2 in May from minus 8 in April, compared with expectations for a much smaller increase to a minus 7 print in a survey compiled by Bloomberg as of 7:35 am ET.

The reading still indicates contraction, which is in line with the Empire State index released earlier but contrasts with the readings from Philadelphia Fed and S&P Global flash indexes that indicated expansion.

The ISM's national manufacturing reading will be released on June 3.

Within the Kansas City data, there were index gains for production, shipments, the number of employees and prices paid while the reading for new orders decreased.