The Chicago Purchasing Managers reported April's Chicago Business Barometer fell 3.4 to 49.0, a 3-1/2 year low. Except for a minor gain in New Orders, all business Activity measures weakened in April with five of seven now in contraction. Business Activity: Supplier deliveries, prices paid and production: all lowest since 2009; Order backlogs: tenth month of contraction in the past 12 months; Employment: third month over month decline. Buying Policy: Capital Equipment longest since August 2012; MRO supplies shortest in five months. (full story)