The Chicago Purchasing Managers' Business Barometer was revised to 48.9 in December, the National Association of Purchasing Management-Chicago said Wednesday.

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.

Seasonal factors for the ISM-Chicago Business Survey are re-estimated at the end of each calendar year.

The production index was revised to 52.4, the new orders index was changed to 50.3, the order backlogs was revised to 45.1, inventories was revised to 48.7, the employment index was revised to 46.8, the supplier deliveries index was revised to 52.8, and the prices paid index was changed to 62.9.

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