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U.S. Midwest business barometer down, at lowest since July

Dec 31 (Reuters) - 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)