Forexpros – Manufacturing activity in the Chicago area slowed significantly more-than-expected in May, falling to the lowest level since September 2009, industry data showed on Thursday.

In a report, market research group Kingsbury International said its Chicago purchasing managers’ index fell by 3.5 points to a seasonally adjusted 52.7 in May from a reading of 56.2 in April.

That was the lowest reading since September 2009.

Analysts had expected the index to ease up by 0.3 points to 56.5 in May.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

The New Orders Index fell to 52.9 from 57.4, while the Employment Index decreased to 57.0 from 58.7 in April. The Prices Paid Index eased to 60.4 from 68.6.

Following the release of the data, the U.S. dollar remained mildly lower against the euro, with EUR/USD adding 0.23% to trade at 1.2395.

Meanwhile, U.S. equity markets added to losses after the open. The Dow Jones Industrial Average dipped 0.3%, the S&P 500 index fell 0.45%, while the Nasdaq Composite index declined 0.6%.

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