Chicago ISM in May goes down, consumer confidence slightly improved
Americans’ confidence in the economy increased slightly in May compared to April, when the corona crisis saw a sharp decline. That was announced by the University of Michigan on the basis of final figures on its index that measures consumer confidence.
The index reached a final level of 72.3 against 71.8 in April. A provisional estimate reported a level of 73.7. Economists generally expected this figure to be revised to 74.
Industrial activity around the US city of Chicago contracted more sharply in May than in April. Market researcher Institute for Supply Management (ISM) announced this.
The purchasing managers index measuring activity around Chicago went up to 32.3 from the 35.4 reported a month earlier. Economists generally calculated a level of 40 for the index, which indicates growth above 50 and shrinkage below.
Wholesale stocks in the United States were up 0.4 percent in April from the previous month. This is evident from preliminary figures published by the United States Department of Commerce.
Economists generally expected stocks to fall by 0.7 percent. In March, stocks were down 1 percent, according to a revised figure.