The Chicago PMI business barometer index level for May was 34.9, 7.1 points below expectations....

|By:, SA News Editor
The Chicago PMI business barometer index level for May was 34.9, 7.1 points below expectations. Readings below 50 signal a contraction.'The report ran counter to others this month that indicated manufacturing was starting to improve this quarter, perhaps signaling that Chicago’s proximity to the auto slump in neighboring Detroit may be affecting the entire Midwest.'