At 8:30 a.m. ET, we’ll get the latest Empire State Manufacturing Survey from the New York Federal Reserve.
Economists forecast that the index rose to 6 from a prior reading of 3.1, according to Bloomberg.
Last month, the reading on economic activity in the New York region increased from a prior reading of -1.2 but still missed expectations.
In a note previewing the economy this week, Barclays economists wrote, “As the second consecutive positive reading for the indicator, this would mark a slight pickup in New York state manufacturing output. New orders have remained muted in recent months despite stronger readings on shipments. National manufacturing output has been subdued, and the Empire State survey, as the earliest monthly read on June activity, will provide an indicator of how the sector is faring at the end of Q2.”
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