Here comes Empire State Manufacturing ...

The latest report on manufacturing activity in New York State is set for release at 8:30 a.m. ET.

Economists forecast that the index fell to 6.50 from 9.56 in the prior month.

It spiked to a 15-month high in April, as the slowing dollar rally and oil-capex decline helped boost manufacturing activity. The report showed that business owners expected conditions to improve in the coming six months.

“Empire should remain firmly in positive terrain as underlying detail (namely orders relative to inventories) continues to suggest good momentum for activity,” RBC said in a preview.

We’ll have the latest details at the bottom of the hour, so refresh this page for updates.

NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.