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Manufacturing in the Midwest continued to grow in March as the Federal Reserve Bank of Chicago reported its index of manufacturing activity rose 0.7 percent in March from February. March’s reading, of 126.7, set a new high, the Chicago Fed said. However, in comparison to the rest of the nation, the Midwest lagged. The Federal Reserve Board reported that industrial production rose 0.9 percent in March. In the Midwest, steel and resource sectors grew at faster rates than the rest of the nation, while the automobile and machinery sectors were unable to match the national pace.
