Manufacturing, Construction Spending Growth Slows

Growth in manufacturing and construction spending – both key economic indicators -- slowed in April and March, respectively, but continued to exceed analysts’ expectations.

The trucking business is highly reactive to economic change and its managers watch economic data closely.

The Institute of Supply Management said in its U.S. Manufacturing Index that tracks factory activity increased in April, but at a slower rate. The index slipped to 53.9 from 55.6, but still showed modest growth.

And, in a separate report, the Commerce Department said construction spending fell 0.9% in March, from an annual rate of $879.4 billion to $874 billion.

Construction accounts for 5% of the economy, and stimulates spending on materials and transportation.

ISM, formerly known as National Association of Purchasing Management, bases its indices on a baseline of 50. Figures over that number indicate growth.

8806