Chicago Fed Dec Midwest factory index at 12-yr low

Newswire

CHICAGO, Jan 29 (Reuters) - The Chicago Federal Reserve Bank said on Thursday its Midwest manufacturing index plunged to the weakest level in over 12 years, hit by a sharp decline in steel production. The index fell 3.6 percent to a seasonally adjusted 92.2 from a downwardly revised 95.7 in November, matching a level last seen in October 1996. The November reading was originally reported at 96.4. Compared with a year earlier, Midwest output was down 14.8 percent, worse than the 10 ...

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