Midwest Manufacturing Output Drops in January
The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 2.3% in January 2007, to a seasonally adjusted level of 102.1 (2002 = 100). Revised data show the index rose 0.8% in December, to 104.6. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was down 0.8% in January. Regional output in January was 1.0% lower than a year earlier, below the 1.9% increase in national output.