Chicago PMI slows to 29-month low in April (by Steve Goldstein)
WASHINGTON (MarketWatch) -- Chicago PMI dropped in April to 56.2% from 63.3% in March to reach a 29-month low, as gauges for production and new orders slowed dramatically, ISM-Chicago said Monday. Though still well over the 50% mark denoting expansion and contraction, economists polled by MarketWatch expected a 60.8% reading. The national Institute for Supply Manufacturing report is due for release Tuesday.