The Chicago Purchasing Managers’ Business Barometer fell to 51.6 in January from 56.4 in December, the National Association of Purchasing Management-Chicago said yesterday.

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 IFR Markets predicted a 52.0 reading for the indicator.

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