Chicago, IL, May 31-- Business activity in the Chicago region fell to its lowest level since June 2003, according to the Chicago Purchasing Manager's index released Tuesday.
The index dropped to 54.1% in May from 65.6% in April. Economists were expecting it to slide to about 61.1%. Readings over 50% indicate expansions. The production index fell to 56.0% from 68.9%, while new orders dropped to 57.9% from 71.0%. Prices paid dropped to 54.3% from 66.1%.
