The Chicago Business Barometer fell to 63.9 in November from 66.2 in October.
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 63.5 reading for the index.
“Despite receding from October's six-and-a-half year high, optimism among businesses recorded the fourth highest outturn this year,” according to a release. “Despite receding from October's six-and-a-half year high, optimism among businesses recorded the fourth highest outturn this year.”
“Output expanded at a robust rate in November, as businesses continued to benefit from healthy domestic conditions and an abating of the disruption brought about by the recent adverse weather,” the release noted. “New Orders, although retreating from October’s four-month high, remained in good health. Of the Barometer’s other three sub-components, Order Backlogs was the only other to also lose ground during the month.”
