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Chicago Fed Midwest Manufacturing Index declined 0.4%
The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.4% in February, to a seasonally adjusted level of 83.8 (2002 = 100). Revised data show the index declined 6.7% in January, to 84.2. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) fell 0.7% in February. Regional output in February was down 22.2% from a year earlier—lower than the 13.8% decrease in national output.
Three of the four regional industry sectors decreased in February:
Regional steel sector output moved down 4.7%;
Regional machinery sector output decreased 4.2%;
Regional resource sector output edged down 0.1%; and
Regional auto sector production rose 7.7%.
Posted: April 6, 2009 Monday 12:00 PM