A measure of Midwest economic activity slipped in December after touching a near two-year high the month before.
Chicago PMI fell 3 points to 54.6, MNI Indicators said Friday. The
consensus forecast among economists was for a 57.0 reading.
Any reading above 50 signals expansion.
The new orders component of the index slid 6.7 points to 56.5.
manufacturing has been slowly regaining momentum after taking beating
from the tumble in oil prices late in 2014. The fourth quarter for the
PMI was at a 2-year high, MNI said, and a majority of respondents said
the Trump administration would have a positive impact on their business.