Econintersect: The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.6% in August 2011, and remains in lockstep with the Federal Reserves Industrial Production (IP) index for the last 3 months. Econintersect analysis has determined that year-over-year IP growth has been flat for the last four months.
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%.
source: Chicago Fed