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Chicago PMI at 49.3 in May vs. 50.5 reading expected

A worker during the manufacturing process of coffee grinders at the MPE Corporation facility in Chicago, Illinois.
Tim Boyle | Bloomberg | Getty Images
A worker during the manufacturing process of coffee grinders at the MPE Corporation facility in Chicago, Illinois.

The Chicago Purchasing Managers Index fell unexpectedly in May, falling short of economists' estimates.

The Chicago PMI came in at 49.3 in May. Economists polled by Reuters had expected a reading of 50.5. (A reading below 50.0 indicates contraction in the economy.)