Midwest Manufacturing Output Falls in July
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 0.3% in July, to a seasonally adjusted level of 107.5 (1997=100). Revised data show the index declined 0.1%, to 107.8 in June. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) rose 0.3% in July. While July marked the third consecutive monthly increase in factory output for the nation, it was the sixth consecutive monthly decline in Midwest manufacturing production. July output in the region was 5.1% lower than a year earlier, while output in the nation was 1.6% below year-ago levels.