The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 0.5% in February, to a seasonally adjusted level of 101.0 (2002 = 100). Revised data show the index increased 0.5% in January, to 101.5. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was down 0.3% in February. Regional output in February was 2.0% higher than a year earlier, slightly below the 2.2% increase in national output.