The Dallas Federal Reserve will release its report on manufacturing in the region at 10:30 a.m. ET.
Economists forecast that the general business activity index improved to -15 from -20.8 in June, according to Bloomberg.
The index has not turned positive since December 2014. Last month, it indicated a renewed slowdown in Texas manufacturing after some improvement in April.
The new orders index plunged 20 points after turning positive in the previous month. The gauges of capacity utilization and shipments fell back below zero.