By Joshua KirbyBusiness activity slumped in the Chicago area in December, largely wiping out the previous month's unexpected rise, according to a purchasing managers' index for the region. The Chicago Business Barometer fell to 46.9 from 55.8 in November, data from a survey compiled by MNI indicators showed Friday. The barometer is compiled through surveys of firms in the Chicago area in order to assess business conditions and components including new orders, order backlogs, production, supplier deliveries and employment. With activity cooling, the employment index also fell by nearly nine points, returning to contraction after two months of expansion. Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby(END) Dow Jones NewswiresDecember 29, 2023 10:14 ET (15:14 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal December 29, 2023 15:21 UTC