Supply chain pressure on the U.S. economy has eased to its lowest level since December 2020, as trucking sector activity begins to cool after peaking in the first quarter, according to a new Logistics Managers Index report on June 7.
The index dropped to 67.1 in May, the second straight monthly decline from the record of 76.2 reached in March with rapidly rising warehouse and inventory costs outpacing slower growth in transportation prices.
The inventory growth rate fell to 69.3 for a third month from February’s record high of 80.2, as transportation capacity expanded for the second month after contracting two years in a row in a tight trucking market due to the pandemic….