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Chicago Fed Midwest Manufacturing Index declined 5.9%
The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 5.9% in January, to a seasonally adjusted level of 85.6 (2002 = 100). Revised data show the index decreased 3.9% in December, to 91.0. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) fell 2.6% in January. Regional output in January was down 21.8% from a year earlier—lower than the 13.0% decrease in national output.
Three of the four regional industry sectors decreased in January:
Regional auto sector production dropped 20.0%;
Regional steel sector output moved down 4.9%;
Regional machinery sector output decreased 3.5%; and
Regional resource sector output ticked up 0.1%.
Posted: March 18, 2009 Wednesday 12:00 PM