Chicago Manufacturing Index Shows Growth

Manufacturing in the Chicago area grew in February, a survey by the Institute for Supply Management reported Thursday, marking the first expansion in 19 months.

This is important to trucking because the manufacturing sector is one of the largest and most important customers of the trucking industry.

ISM, formerly the National Association of Purchasing Management, said that its factory index for the Chicago area rose to 53.1 this month from 45.1 in January. Any reading above 50 indicates expansion.

Analysts expected an increase to 47.1, according to Bloomberg.

The report also showed that new orders rose to 59.5 in February from 48.7. This was the highest reading since April 2000 and was also seen by analysts as a sign that the factory slowdown may have ended, Bloomberg said.

The national manufacturing report, scheduled for release on Friday, may show that an 18-month contraction in the sector has ended. The index was 49.9 last month.

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