December 27th, 2010
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.4% in November, to a seasonally adjusted level of 81.1 (2007 = 100). Revised data show the index edged up 0.3% in October to 80.8. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.3% in November. Follow up:
Follow up:Regional output in November rose 7.9% from a year earlier, and national output increased 6.0%. Three of the four regional sectors increased in November:
- Regional steel sector output increased 2.3%;
- Regional machinery sector production rose 1.4%;
- Regional resource sector output moved up 0.4%; and
- Regional auto sector production decreased 2.2%.
The region’s steel sector output increased 2.3% in November after ticking down 0.1% in the previous month. The nation’s steel output increased 1.8% in November. Regional steel output was up 18.0% from its November 2009 level, and national steel output was up 11.0%. The Midwest’s machinery sector production rose 1.4% in November after increasing 2.0% in October. The nation’s machinery production increased 1.1% in November. Regional machinery output in November was up 12.1% from its year-earlier level, and national machinery output
was up 12.7%.
The Midwest resource sector’s output moved up 0.4% in November after decreasing 0.6% in the previous month. The national resource sector’s output also increased 0.4% in November. The wood, paper, and chemical production subsectors of the regional resource sector increased from October to November, while the food and nonmetallic subsectors decreased. Compared with a year ago, regional resource output was up 5.1% in November and national resource output was up 3.1%.
The region’s auto sector production decreased 2.2% in November after ticking down 0.1% in October. National auto output declined 1.7% in November. The Midwest’s automotive output was up 6.1% in November relative to its year-ago level, and national automotive output was up 3.6%.