Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.8% in July 2012

August 27th, 2012
in econ_news, syndication

Follow up:

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.8% in July, to a
seasonally adjusted level of 95.6 (2007 = 100). Revised data show the index was up 0.9% in
June. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG)
increased 0.5% in July. Regional output rose 12.5% in July from a year earlier, and national
output increased 5.2%.

Production in two of the four regional sectors increased in July:

• Regional auto sector production rose 6.3%;
• Regional resource sector output moved up 0.3%;
• Regional steel sector output decreased 0.1%; and
• Regional machinery sector production declined 0.8%.

The region’s auto sector production rose 6.3% in July after increasing 0.9% in June.
National auto output improved 2.3% in July. The Midwest’s automotive output was up 30.0%
in July relative to its year-ago level, and national automotive output was up 15.7%.

The Midwest resource sector’s output moved up 0.3% in July, following an improvement
of 0.1% in June. The national resource sector’s output moved up 0.2% in July. Production in
the regional resource sector’s food subsector increased from June to July, while production in
its wood and nonmetallic mineral subsectors decreased; output from its paper and chemical
subsectors was unchanged. Compared with a year ago, regional resource output was up 1.8%
in July, and national resource output was up 1.1%.

The region’s steel sector output decreased 0.1% in July after moving down 0.2% in the
previous month. In contrast, the nation’s steel output increased 0.5% in July. Regional steel
output was up 8.1% from its July 2011 level, and national steel output was up 5.2%.
The Midwest’s machinery sector production declined 0.8% in July after increasing 2.6%
in June. By contrast, the nation’s machinery production moved up 0.1% in July. Regional
machinery output was up 11.6% in July from its year-ago level, and national machinery output
was up 6.8%.

source: Chicago Fed



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