Midwest business activity slows in September

A worker prepares parts to be assembled for industrial coffee grinding equipment at the Modern Process Equipment manufacturing facility in Chicago.
Tim Boyle | Bloomberg | Getty Images

A closely watched barometer of business conditions in the Midwest weakened more than expected in September.

The Institute for Supply Management-Chicago business barometer fell to 60.1 in the month.

Economists in a consensus forecast had expected the index to fall to 61.9 from August's 64.3 reading.

A reading above 50 indicates expansion in the regional economy.