Midwest Manufacturing Output Bests Nation for Second Consecutive Month
The Chicago Fed Midwest Manufacturing Index (CFMMI) rose 1.0% from March to April, to a new record seasonally adjusted level of 131.4 (1992=100); revised data show the index rose 0.8% in March. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.6% in April after having risen 0.4% the prior month. April output in the region was 2.2% higher than a year earlier, while the nation’s output was up 2.5%. This represented the third consecutive month that growth from a year ago has improved for the Midwest.