Chicago Business Index Declines in May

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n index of Chicago-area business declined in May for a second straight month, the National Association of Purchasing Management-Chicago reported Tuesday.

NAPM’s business barometer dropped to 54.1 from 65.6 in April, the group said. The drop was below economists’ median forecast of 61.4, Bloomberg reported.

The Chicago area is a center of U.S. manufacturing, which is one of trucking’s largest and most important customers.

Readings above 50 signal expansion. The Chicago decline follows reports from New York and Philadelphia that have showed slower growth this year compared with last year.