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Chicago Fed Midwest Manufacturing Index declined 3.1%
The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 3.1% in May, to a seasonally adjusted level of 78.2 (2002 = 100). Revised data show the index was down 1.4% in April, to 80.7. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was down 1.0% in May. Regional output in May declined 24.4% from a year earlier—lower than the 15.2% decrease in national output.
Three of the four regional industry sectors decreased in May:
Regional auto sector production dropped 10.7%;
Regional machinery sector output declined 3.3%;
Regional steel sector output decreased 2.2%; and
Regional resource sector output edged up 0.2%.
Posted: June 29, 2009 Monday 12:00 PM