A key economic indicator called the U.S. Chicago Purchasing Managers Index has some very bad news about the economy, and, perhaps worse, the indicator has been right at predicting recessions 100 percent of the time for decades. The CPMI assesses the business conditions and economic health of the manufacturing sector in the upper Midwest around the Chicago region and maintains that the economy is healthy if the index sits at 50.0 or above. But under 50.0 reveals a contracting manufacturing and business climate in the important region. David Rosenberg, the founder and president of the market ana…