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Chicago Fed Midwest Manufacturing Index Falls 1.1% In April
May 27, 2009
The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 1.1% in April to a seasonally adjusted level of 81.0 (2002 = 100). Revised data show the index decreased 2.9% in March to 81.8.
The Federal Reserve Board's industrial production index for manufacturing (IPMFG) edged down 0.2% in April. Regional output in April was down 22.7% from a year earlier - lower than the 14.3% decrease in national output.
The region's steel sector output declined 3.4% in April after dropping 6.1% in March. The nation's steel output was down 1.8%. Regional steel output dropped 36.0% from its April 2008 level, and national steel output fell 25.3%.
Regional auto sector production moved down 2.0% in April after decreasing 0.8% in March. The nation's auto output was unchanged in April. The Midwest's automotive output was down 33.3% in April relative to its year-ago value, and the nation's auto output was down 19.3%.
The Midwest's machinery sector output decreased 1.8% in April after moving down 5.3% in March. The nation's machinery output edged down 0.4% in April. Regional machinery output in April was 24.7% below year-earlier levels, and national machinery output was down 16.7%.
The Midwest resource sector's output rose 0.5% in April after decreasing 1.9% in March. The national resource sector's output edged up 0.2% in April. Four of the five subsectors of the resource sector-food, paper, nonmetallic mineral, and wood production- increased from March to April, while chemical production edged down. Compared with a year ago, regional resource output was down 10.7% in April, and the national resource output declined 8.6%.