The Chicago Purchasing Managers' Business Barometer dipped to 63.0 in November from 65.9 in October, 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.

Economists polled by Thomson Reuters predicted a 60.0 reading for the index.

The production index fell to 64.3 from 71.1, the new orders index decreased to 68.8 from 74.3, the order backlogs slid to 59.8 from 61.0 in the prior survey and inventories surged to 61.1 from 48.0. The employment index jumped to 60.9 from 57.7 and the supplier deliveries index was at 56.2, up from 52.7 last month. The prices paid index rose to 63.7 from 56.7.

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