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US Midwest Business Barometer Drops in May

Tuesday, 31 May 2011 01:49 PM

Business activity in the U.S. Midwest grew much less than expected in May, as orders softened and employment weakened, a report showed on Tuesday.

The Institute for Supply Management-Chicago business barometer dropped to 56.6 in May, its lowest reading since November 2009. The reading was 67.6 in April, and economists had forecast a May reading of 62.6.

The employment component of the index fell to 60.8, from 63.7 in April. New orders sank to 53.5 from 66.3. A reading above 50 indicates expansion in the regional economy.

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Business activity in the U.S. Midwest grew much less than expected in May, as orders softened and employment weakened, a report showed on Tuesday.The Institute for Supply Management-Chicago business barometer dropped to 56.6 in May, its lowest reading since November 2009....
us,economy,Midwest,Business,Barometer
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2011-49-31
Tuesday, 31 May 2011 01:49 PM
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