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Chicago Fed Midwest Manufacturing Index declined 2.4%
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 2.4% in March, to a seasonally adjusted level of 82.0 (2002 = 100). Revised data show the index decreased 0.4% in February, to 84.0. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) fell 1.7% in March. Regional output in March was down 23.2% from a year earlier—lower than the 14.9% decrease in national output.
Three of the four regional industry sectors decreased in March:
Regional steel sector output dropped 5.5%;
Regional machinery sector output also declined 5.5%;
Regional resource sector output moved down 1.5%; and
Regional auto sector production rose 0.9%.
Posted: April 27, 2009 Monday 12:00 PM