The Chicago Purchasing Managers' Business Barometer dipped to 59.1 in December from 63.0 in November, the National Association of Purchasing Management-Chicago said Tuesday.
The data is compiled on a seasonally adjusted basis. An index reading below 50 signals a slowing economy, while a level above 50 suggests expansion.
Economists polled by Thomson Reuters predicted a 61.0 reading for the index.
The production index fell to 57.9 from 64.3, the new orders index decreased to 60.7 from 68.8, the order backlogs slid to 58.3 from 59.8 in the prior survey and inventories slumped to 43.9 from 61.1. The employment index dropped to 51.6 from 60.9 and the supplier deliveries index was at 61.6, up from 56.2 last month. The prices paid index slid to 63.3 from 63.7.
