The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.3% in June, to a seasonally adjusted level of 78.1 (2002 = 100). Revised data show the index was down 3.0% in May, to 78.3. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was down 0.6% in June. Regional output in June declined 25.2% from a year earlier—lower than the 15.4% decrease in national output.