The Chicago Fed Midwest Manufacturing Index (CFMMI) rose 2.0% in December, to a seasonally adjusted level of 115.9 (1997=100). Revised data show the index also increased 2.0% in November, to 113.7. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was up 0.3% in December. Regional output during December was 2.9% higher than a year earlier, the first month since January 2003 that output exceeded year-earlier levels. Output in the nation was 2.7% above year-ago levels.