Growth in business activity in the Midwest slowed in March, but held above the low seen at the beginning of the year.
MNI Indicators said Friday its Chicago purchasing manager's index (PMI) dropped to 58.7 from 64.7 in the previous month.
Economists had expected the barometer to drop to 61.0.
On the scale, any reading above 50 indicates improving conditions.
The Chicago PMI measures business conditions across the Midwestern states of Illinois, Indiana and Michigan.
