Midwest Manufacturing Output Increased in October
November 29, 2010
CHICAGO-The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.7% in October, to a seasonally adjusted level of 80.9 (2007 = 100). Revised data show the index edged up 0.2% in September to 80.3. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.6% in October. Regional output in October rose 8.6% from a year earlier, and national output increased 6.7%.
All four of the regional sectors increased in October:
Regional machinery sector production rose 1.5%
Regional steel sector output moved up 0.7%
Regional auto sector output gained 0.5%
Regional resource sector production increased 0.4%.
The Midwest’s machinery sector production rose 1.5% in October after decreasing 0.5% in September. The nation’s machinery production increased 0.9% in October. Regional machinery output in October was up 9.0% from its year-earlier level, and national machinery output was up 11.7%.
The region’s steel sector output moved up 0.7% in October after remaining flat in the previous month. The nation’s steel output ticked up 0.1% in October. Regional steel output was up 19.3% from its October 2009 level, and national steel output was up 12.0%.
The region’s auto sector production gained 0.5% in October after a 0.4% increase in September. National auto output increased 0.7% in October. The Midwest’s automotive output was up 9.1% in October relative to its year-ago level, and national automotive output was up 5.6%.
The Midwest resource sector’s output increased 0.4% in October after gaining 0.6% in the previous month. The national resource sector’s output edged up 0.2% in October. The food, wood, paper, and nonmetallic production subsectors of the regional resource sector increased from September to October, while the chemical subsector decreased. Compared with a year ago, regional resource output was up 6.3% in October and national resource output was up 4.3%.