Here comes the Philly Fed ...

The Philadelphia Federal Reserve will release its regional business outlook for July at 8:30 a.m. ET.

Economists forecast that the headline manufacturing index dipped to 4.5 from 4.7, according to Bloomberg. It would be the fourth time in the past year that the index is positive.

Last month’s report described the manufacturing recovery as “tepid,” citing weak growth of new orders and shipments.

This month, the Philly Fed’s special question to business owners is on the importance of seasonal factors in monthly production levels.

More to come …

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