Chicago Manufacturing Growth Dips in December

December 29, 2005 11:00 AM, EST

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he growth rate of manufacturing activity in the Chicago area slowed slightly this month, but manufacturing continued to expand in the region, the National Association of Purchasing Management-Chicago said Thursday.

APM’s Chicago-area business barometer fell to 61.5 from 61.7 in November, the group said. The level still exceeded economists’ forecasts a 60 reading, Bloomberg reported.

Readings above 50 signal expansion. The survey’s reading contracted in August with a 49.2 level; before that, it had risen for 27 consecutive months.

Chicago-area manufacturers such as heavy equipment and diesel engine maker Caterpillar Inc. say sales continue to rise, Bloomberg reported.

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