August 30th, 2011
Econintersect: Although the economy is in a soft patch, not everything is moving down. The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.5% in July.
Revised data also shows the index increased 0.3% in June. The Federal Reserve Board’s Industrial Production (IP) increased 0.6% in July. Regional output in July rose 6.2% from a year earlier, and national IP increased 4.2%. Follow up:
The regional auto, steel, and resource sectors increased in July, while the machinery sector decreased:
- Regional auto sector production increased 1.4%
- Regional steel sector output rose 1.4%;
- Regional resource sector output moved up 0.2%; and
- Regional machinery sector production decreased 0.3%.
source: Chicago Fed