Chicago Manufacturing Index Declines, But Shows Growth

he growth rate of Chicago-area manufacturing activity slowed this month as automakers cut capacity, the National Association of Purchasing Management-Chicago said Tuesday.

APM’s Chicago-area business barometer fell to 58.5 from a revised 60.8 in December, the group said.

The level was below economists’ forecasts a 59.9 reading, Bloomberg reported.

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