The Chicago Fed Midwest Manufacturing Index (CFMMI) ticked down 0.2% in May 2007, to
a seasonally adjusted level of 104.6 (2002 = 100). Revised data show the index increased 0.4%
in April. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG)
was up 0.1% in May. Regional output in May was 0.3% higher than a year earlier, below the
1.9% increase in national output.