The Chicago Federal Reserve Board’s Midwest Manufacturing Index (CFMMI) fell 0.6 percent in August, to a seasonally adjusted level of 107.3 (2002=100), according to a report released September 27. Revised data shows the index rose 0.9 percent in July, to 107.9.
The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was unchanged in August. Regional output in August was 5.5 percent higher than a year earlier, slightly lower than the national output’s 5.6 percent increase.
All four of the regional sectors decreased in August. Output in the regional steel sector dropped by 0.2 percent; the regional resource output was down by 0.5 percent. The Midwest machinery sector decreased its production by 0.6 percent, while the auto output was down 0.8 percent.
The region’s steel sector output was down 0.2 percent in August, after rising 1.5 percent in July. The nation’s steel output was up 0.5 percent in August. Regional steel output was 8.2 percent above its August 2005 level, higher than the 7.6 percent increase in the nation’s steel output.
The Midwest resource sector’s output decreased 0.5 percent in August after a 1.0 percent increase in July. The nation’s resource sector’s output was down 0.4 percent in August. All the subsectors of the resource sector decreased in August: paper production, wood, regional chemical and non-metallic mineral. Compared with a year ago, regional resource output was up 4.5 percent in August, while national resource output was up 3 percent.
Midwest machinery sector output fell 0.6 percent in August after rising 3.3 percent in July. The nation’s machinery output rose 0.1 percent in August. Regional machinery output in August was 10.6 percent above year-earlier levels, while national machinery output was up 14.2 percent.
Midwest auto sector production dropped 0.8 percent in August after decreasing 1.3 percent in July. The nation’s auto output was up 0.4 percent in August. Compared with a year earlier, Midwest automotive output was up 2.3 percent, while the national auto output was up 3.8 percent.
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