The Chicago Fed Midwest Manufacturing Index (CFMMI) declined 3.1% in May, to a seasonally adjusted level of 78.2 (2002 = 100). Revised data show the index was down 1.4% in April, to 80.7.
The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was down 1.0% in May. Regional output in May declined 24.4% from a year earlier- lower than the 15.2% decrease in national output.
Regional auto sector production dropped 10.7% in May after declining 3.0% in April. The nation’s auto output was down 2.6% in May. The Midwest’s automotive output was down 39.2% in May relative to its year-ago value, and the nation’s auto output was down 22.0%. The troubles of the Detroit Three auto companies seem to be affecting Midwestern production much more than that of other areas …
