The Chicago Purchasing Managers' Business Barometer declined to 48.7 in November from 56.2 in October, the National Association of Purchasing Management-Chicago said Monday.
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.
"The significant decline in the Barometer is indicative of the see-saw pattern of demand seen in 2015, with output and orders shifting in and out of contraction," according to a release. "The November fall also suggests that activity over the final quarter of the year may well decelerate barring a bounceback in December."
"The November fall also suggests that activity over the final quarter of the year may well decelerate barring a bounceback in December," according to the release.
