Chicago Fed Midwest Manufacturing Index Declines in February - Modern Distribution Management

Chicago Fed Midwest Manufacturing Index Declines in February

The region's steel sector increased, while the other three regional industry sectors experienced declines.

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.8% in February, to a seasonally adjusted level of 82.6 (2002 = 100). Revised data show the index increased 2.0% in January to 83.2.

The Federal Reserve Board??s industrial production index for manufacturing (IPMFG) ticked down 0.2% in February. Regional output in February edged down 0.5% from a year earlier, and national output increased 2.0%.

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Three of the four regional industry sectors decreased in February:

Regional auto sector production declined 2.8% in February after rising 4.7% in January. The nation??s auto output decreased 1.7% in February. The Midwest??s automotive output was up 10.0% in February relative to its year-ago level, and the nation??s auto output was up 6.1%.

The Midwest resource sector??s output moved down 0.5% in February after increasing 1.3% in January. The national resource sector??s output was down 0.4% in February. Three of the five subsectors of the regional resource sector – food, chemical, and nonmetallic production – decreased from January to February, while wood and paper production increased. Compared with a year ago, regional resource output was up 3.0% in February and national resource output was up 3.9%.

The Midwest??s machinery sector production moved down 0.2% in February after increasing 1.7% in January. The nation??s machinery production increased 0.8% in February. Regional machinery output in February was down 12.8% from year-earlier levels, and national machinery output was up 3.8%.

The region??s steel sector output increased 0.9% in February after rising 1.5% in January. The nation??s steel output was up 0.2% in February. Regional steel output fell 2.1% from its February 2009 level, and national steel output was unchanged.

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