(Reuters) – Business activity in the U.S. Midwest jumped more than expected in May, accelerating to its highest level since November 1973 as demand provided a boost to business activity while supply constraints remain, a report showed on Friday.
The Chicago Business barometer rose to 75.2 from 72.1 in April, according to MNI Chicago. It is often looked at as a preview of how the national ISM survey due next week may come in.
Economists polled by Reuters had forecast the index at 68.0. A reading above 50 indicates expansion in the sector.
(Reporting by Evan Sully, Editing by Chizu Nomiyama)