Manufacturing activity in the Chicago area expanded at a slower rate in March, the Institute for Supply Management-Chicago said March. 31.
ISM’s business index declined to a reading of 55.9 from 59.8 in February. Readings of more than 50 indicate expansion.
The median forecast of 45 economists in a Bloomberg News survey called for the index to be unchanged at 59.8. Projections in the survey ranged from 56 to 62.
Chicago is a major center of U.S. manufacturing, which is one of trucking’s largest and most important customers.