The Chicago Fed Midwest Manufacturing Index (CFMMI) fell 0.5% in December to a seasonally adjusted level of 103.7 (1997=100). Revised data show the index was unchanged at 104.2 in November. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was down 0.3% in December after rising 0.2% in November. December output in the region was 2.5% higher than a year earlier, while output in the nation was 1.8% higher.