Chicago Fed Mid-West Index
The Chicago Fed Midwest Manufacturing Index (CFMMI) is a monthly estimate by major industry of manufacturing output in the Seventh Federal Reserve District states of Illinois, Indiana, Iowa, Michigan and Wisconsin. It is a composite index of 15 manufacturing industries that uses hours worked data to measure monthly changes in regional activity.
This Chicago Fed commentary is based on monthly changes. The three month moving average (3MMA) analysis used by Steel Market Update provides a different perspective of the data.
The Chicago Fed Midwest Manufacturing Index (CFMMI) is set to undergo a process of data and methodology revision in 2014. Beginning in December 2013, the monthly release of the CFMMI will be suspended pending the release of updated benchmark data from the U.S. Census Bureau and a period of model verification. Significant revisions in the history of the CFMMI are anticipated.
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