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Chicago Fed Midwest Mfg Index Drops 2.6% in September
The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 2.6% in September, to a seasonally adjusted level of 100.6 (2002 = 100). Revised data show the index decreased 2.6% in August, to 103.3. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) decreased 2.7% in September. Regional output in September was 7.4% lower than ayear earlier, below the 4.8% decrease in national output.
All four regional industry sectors decreased in September:
Regional auto sector production dropped 5.4%;
Regional machinery sector output declined 2.0%;
Regional steel sector output decreased 1.9%; and
Regional resource sector output moved down 1.6%.
Posted: October 27, 2008 Monday 01:03 PM