2015 ends on a sour note in the Midwest. The Chicago purchasing manager index (PMI) unexpectedly plunged to 42.9 in December, which is the lowest reading since July 2009. Any reading below 50 signals a contraction in business activity. This was down from 48.7 in November and much worse than the 50.0 expected by economists. And this is about more than just the Midwest. The Chicago PMI report also signals what could come from the national ISM manufacturing reports we get next week. "On average, the ISM-adjusted regional surveys and Markit PMI suggest a decrease in the national manufacturing ISM index of around half ... (full story)