The US manufacturing sector continues to weaken:

Chicago’s PMI index tumbled to 36.9 points in December, the 2nd lowest reading since the 2020.

The Chicago Business Barometer significantly missed expectations of 42.5 points.

This marks the 13th consecutive monthly contraction.

Furthermore, the new orders index dropped to its 2nd lowest since May 2020 with over 50% of respondents reporting fewer new orders for the first time since June 2020.

The key nationwide ISM manufacturing PMI index for December is due to be released on Friday.

The US manufacturing sector is in a recession.