The latest business outlook from the Philadelphia Federal Reserve is set for release at the bottom of the hour.

Economists project that the headline index fell to 9 in April from a prior reading of 12.4. That was the first positive reading in seven months.

“The recent sharp, if not startling, upturn in the regional manufacturing surveys should continue today with the release of the Philadelphia Fed report,” said Pantheon Macroeconomics’ Ian Shepherdson in a note.

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

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