Here comes the Philly Fed ...

The latest Philly Fed Business Outlook is set for release at 8:30 a.m. ET.

Economists forecast that the index of general activity rose to 3 in May after dipping to 1.6 last month, according to Bloomberg.

They are looking into this report for clues about whether the manufacturing recovery is taking longer than expected. The Empire State Manufacturing index out Monday unexpectedly fell to -9.02 after rising to a 15-month high of 9.56 in April.

We’ll have the latest when the data cross, so refresh this page for updates.

NOW WATCH: The Big Bang is not the beginning of our universe — it’s actually the end of something else entirely

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at