Midwest Manufacturing Output Falls in November
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 0.6% from October to November, reaching a seasonally adjusted level of 145.0 (1992=100). Revised data show the index was at 145.9 in October and declined 2.3% from September. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) fell 0.2% in November after decreasing 0.9% in October. November output in the region was 13.0% lower than a year earlier, while output in the nation was down 6.3%. Manufacturing output in the region peaked in June 2000 and has declined by 15.4% since then. Factory output in the nation also peaked in June 2000 and has fallen 7.6% since then.