The Chicago Business BarometerTM, produced with MNI, fell to 32.3 in May, hitting the lowest level since March 1982, as business confidence cooled further amid the Covid-19 crisis. Among the main five indicators, Order Backlogs and Supplier Deliveries saw the largest declines, while Employment edged marginally higher. Demand tumbled further into contraction in May after seeing the largest fall on record in April. New Orders dropped by 2.3 points to the lowest since July 1980. Similarly, Production ticked down 6.3% in May after falling sharply in the previous month. The index remained at a 40-year low as firms ... (full story)