US: Chicago PMI rises to 60.3 in May versus expected drop to 55 from 56.4 in April

According to the latest release by ISM-Chicago, Inc, the Chicago PMI rose to 60.3 in May versus an expected drop to 55 from 56.4 in April. The latest numbers are in fitting with a gradually slowing, but still robust pace of growth in the US midway through the second quarter of 2022.