Chicago Fed Index Posts Slight Decline in October, but Outperforms the Nation
Last Updated: 12/11/96
The Chicago Fed’s Midwest Manufacturing Index in October recorded its first monthly decline since March of this year. While October’s decline (-0.4%, s.a.) was far less severe than in March (-2.7%), the cause could largely be traced to a similar source—a strike against an auto company that closed critical parts plants. The impact of that strike can be clearly seen in an 8% decline in auto assemblies in October. With the effects of the strike spilling over into November, the possibility of another manufacturing output decline in November cannot be ruled out.
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