Chicago factory sector index slumps to weakest level since December 2015
Manufacturing activity in the Chicago area slumped further at the turn of the year, declining at its quickest pace since the end of 2015.
Market News International's Chicago Business Barometer fell to a reading of 42.9 in December (consensus: 48.9) - its lowest level since December 2015.
The 50.0 point level for the Purchasing Managers' Index marks the threshhold between an expansion or a contraction in activity.
Order backlogs and new orders were weakest, MNI said.
In a special question, the survey compiler asked firms if the signing of the USMCA would improve their supplier lines, with a majority of 60% of respondents saying that they anticipated "no improvement at all".