Midwest Manufacturing Output in December Falls for the Fifth Consecutive Month
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 0.5% from November to December, reaching a seasonally adjusted level of 145.0 (1992=100). Revised data show the index was at 145.8 in November and declined 0.1% from October. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) fell by 0.1% in December after decreasing 0.2% in November. December output in the region was 10.9% lower than a year earlier, while output in the nation was down 5.9%. Manufacturing output in the region peaked in June 2000 and has declined by 15.5% since then. Output in the nation also peaked in June 2000 and has fallen 7.8% since then.