A monthly survey of activity in the supply chain published Tuesday registered an all-time low in April.
The Logistics Managers’ Index (LMI) produced a reading of 50.9 during the month, a new low for the 6.5-year-old data set. This was the third consecutive month the growth rate slowed, albeit only 20 basis points lower than the level recorded in March.
A level below 50 indicates contraction while one above signals expansion.
There was some good news in the bad news.
A big driver of the change was a...