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Kansas City Fed Services Index Jumps in July

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The Kansas City Federal Reserve's monthly composite services index increased to a reading of 14 in July after falling to 5 in June, suggesting a faster pace of expansion.

The rise follows increases in the regional services sector readings from Philadelphia and New York Fed regions and the S&P Global US flash services measure.

There was an increase in the Kansas City revenue/sales reading to 19 from 3, while the employment reading increased to 4 from 1.

The reading of selling prices decreased to 12 from 16, while the input price index fell to 45 from 51. A reading above zero indicates growth.

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