The final reading on business activity in the Midwest during 2016 will be released at 9:45 a.m. ET.
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The Chicago Purchasing Manager's Index (PMI) is forecast to slip to 56.8 from 57.6 in December, according to Bloomberg.
In November, business activity expanded for a sixth straight month, with an index reading above 50.
The rising dollar and recovering oil prices impacted businesses in varying degrees, according to MNI indicators. The potential drag from the stronger dollar and support from rising oil prices could become bigger themes for manufacturers heading into the new year.
Like other economic reports, last month's release showed that business owners were confident about the economy in 2017.
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