The Chicago Fed Midwest Manufacturing Index (CFMMI) rose 0.3% in May, to a seasonally adjusted level of 118.4 (1997=100). Revised data show the index rose 0.2% in April, to 118.1. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) rose 0.5% in May. Regional output in May was 1.3% higher than a year earlier, lower than the nation’s 3.2% increase.