The Chicago Fed Midwest Manufacturing Index (CFMMI) reached a record high of 125.5 in November. The index increased 0.7% from October to November, following a strong 1.1% increase in October. By comparison, the Federal Reserve Board’s industrial production index for manufacturing (IP-MFG) also set a record high of 130.2 in November, representing a 1.0% increase in November following a 0.6% increase in October. While the regional manufacturing index experienced good growth compared with a year ago at 5.6%, the nation experienced even faster growth with the IP-MFG rising at 6.3% over the same period. This faster growth on a year-ago basis by the national manufacturing index has been evident in the past seven months of data.
Chicago Fed Midwest Manufacturing Index,
November
1997
Midwest Manufacturing Index Continues to Hit New Highs