Economy

Chicago PMI hits 65.5 in May vs. 61 estimate

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May Chicago PMI 65.5

The pace of business activity in the U.S. Midwest rose more than expected in May, rising to its best level since October 2013, a report showed on Friday.

The Institute for Supply Management-Chicago business barometer was 65.5, up from 63.0 in April. Economists were looking for a reading of 61.0 in the month.

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