Midwest Manufacturing Output Falls in January
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 0.2% from December to January, to a seasonally adjusted level of 129.6 (1992=100); revised data show the index rose 0.1% in December. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.1% in both December and January. January output in the region was 0.6% higher than a year earlier, while the nation’s output was up 2.2%. This marked the fifth consecutive month of slower year-over-year growth for the regional index.