Midwest Manufacturing Output Falls for the Seventh Consecutive Month
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 2.2% from March to April, reaching a seasonally adjusted level of 157.3 (1992=100). Revised data show the index was at 160.9 in March and had fallen 0.5% from February. April was the seventh consecutive month that the CFMMI declined. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) fell 0.3% in April after falling 0.2% in March. April output in the region was 5.8% lower than a year earlier, while output in the nation was 1.6% lower. This was the largest decline from a year-earlier period for the region since August 1991.