Midwest Manufacturing Growth Slower than Expected in December

The pace of business activity in the U.S. Midwest slowed in December, a report showed on Wednesday.

The Institute for Supply Management-Chicago Business Barometer declined to 58.3, its lowest reading since July, after a November reading of 60.8.

A Reuters poll of economists expected a reading of 60.1.

A reading above 50 indicates expansion in the regional economy. (Reporting by David Gaffen; Editing by Meredith Mazzilli)