Midwest Manufacturing Output Falls in March
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 0.6% from February to March, reaching a seasonally adjusted level of 161.7 (1992=100). Revised data show the index was at 162.7 in February and had fallen 1.1% from January. March was the sixth consecutive month that the CFMMI declined. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) rose 0.3% in March after falling 0.3% in February. March output in the region was 2.9% lower than a year earlier, while output in the nation was 0.4% higher. This was the largest decline from a year-earlier period since October 1991.