Chicago PMI tumbles to five and half year low in February
The Chicago Purchasing Managers' Index tumbled to 45.8 from 59.4 in February, its lowest level in five and a half years.
The reading came in way below analysts' expectations of a 58.0 reading and fell short of the 50 mark measuring contraction, as a result of double-digit drops in production, new orders, order backlogs and employments.