Latest: Logistics growth slowed in August

Economic growth in logistics slowed for a second straight month in August, marked by cooling inventory levels and rising cost pressures, according to the latest Logistics Managers’ Index (LMI) report, released this week . The LMI was 66.6 in August, down more than two points from July’s reading of 68.9 and more than four points from June’s four-year peak of 71.1. The LMI is a monthly measure of economic activity across warehousing and transportation markets based on a survey of U.S. logistics managers. An LMI reading above 50 indicates expansion across the industry; a reading below 50 indicates contraction. The August slowdown stems from slower growth in inventory levels, which fell more than two points to a reading of 52.8. Companies across the industry had built up inventories in June and have since eased back, driven largely by upstream firms that reported mild contraction (49.0) in inventory levels in August, the LMI researchers said in their monthly report. Costs pressures intens