The Chicago Purchasing Managers' Business Barometer declined to a six and a half year low of 42.9 in December from 48.7 in November, the National Association of Purchasing Management-Chicago said Thursday.
The index contracted seven times in 2015.
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.
"It has been a volatile year for the Barometer," according to a release. "new orders and production have experienced particularly large swings with businesses never recovering fully from a sharp plunge at the beginning of the year. The barometer's December print is 16.5 points beneath the January high of 59.4. The quarterly average declined to 49.3 in Q4, the same as in Q2 which was the weakest quarter since Q3 2009."
