Chicago Fed Midwest Manufacturing Index Shows Increases in Production
September 27, 2011
CHICAGO---The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.6% in August, to a seasonally adjusted level of 85.0 (2007 = 100). Revised data show the index increased 0.3% in July. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.4% in August. Regional output in August rose 7.6% from a year earlier, and national output increased 4.2%. Production in three of the four regional sectors increased in August:
Regional machinery sector production increased 1.4%;
Regional auto sector production moved up 0.8%;
Regional steel sector output rose 0.8%; and
Regional resource sector output decreased 0.1%.
The Midwest’s machinery sector production increased 1.4% in August after decreasing 0.7% in July. The nation’s machinery production rose 0.7% in August. Regional machinery output in August was up 12.8% from its year-earlier level, and national machinery output was up 6.4%.
The region’s auto sector production moved up 0.8% in August after increasing 1.5% in July. National auto output rose 1.4% in August. The Midwest’s automotive output was up 10.3% in August relative to its year-ago level, and national automotive output was up 7.2%.
The region’s steel sector output rose 0.8% in August after moving up 1.0% in the previous month. The nation’s steel output improved 0.4% in August. Regional steel output was up 17.1% from its August 2010 level, and national steel output was up 10.3%.
The Midwest resource sector’s output decreased 0.1% in August after a 0.2% decline in the previous month. The national resource sector’s output was unchanged in August. The food, wood, paper and nonmetallic subsectors of the regional resource sector decreased from July to August, but the chemical subsector increased. Compared with a year ago, regional resource output was down 0.8% in August but national resource output was up 0.2%.