Mergers and the changing landscape of commercial banking (Part II)

Tracking Midwest manufacturing activity

Motor vehicle production
(millions, seasonally adj. annual rate)

Dec. Month ago Year ago

Cars          5.6        5.9         5.8

Light trucks    6.9         7.1          6.5

Purchasing managers’ surveys:
net % reporting production growth

Dec. Month ago Year ago

MW        57.0      61.6       54.4

U.S.         58.7       57.4        46.8

The CFMMI rose 0.3% from October 1999 to November 1999. In comparison,
the Federal Reserve Board’s IP for manufacturing increased 0.5% in November,
after increasing 0.8 in October.

Light truck production decreased from 7.1 million units in November to 6.9
million units in December and car production declined from 5.9 million units
to 5.6 million from November to December.

The Midwest purchasing managers’ composite index (a weighted average of
the Chicago, Detroit, and Milwaukee surveys) for production decreased to
57.0% in December from 61.6% in November. The purchasing managers’ in-
dex decreased in all three surveys. The national purchasing managers’ survey
for production increased from 57.4% to 58.7% from November to December.

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