The Chicago Fed Midwest Manufacturing Index slumped 2.6% in August to a seasonally adjusted level of 103.5 after the July report showed a revised 0.2% increase to 106.2, originally reported as 0.4% rise to 106.3, the Federal Reserve Bank of Chicago reported yesterday.
Nationally, the Federal Reserve Board’s industrial production index for manufacturing fell 1.0% in August. Overall manufacturing output in the region dropped 4.9% from a year earlier, compared to a 1.7% decline in output nationally in that period.
Output in three of the four CFMMI sub-sectors decreased in August, the Fed said.
