The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.5 percent in August, to a seasonally adjusted level of 96.7 (2007 = 100). Revised data show the index was down 0.7 percent in July. The Federal Reserve Board’s industrial production index for manufacturing moved up 0.7 percent in August. Regional output rose 4 percent in August from a year earlier, and national output increased 2.8 percent.
Production in three of the four regional sectors increased in August:
- Regional auto sector production rose 4.1 percent
- Regional machinery sector production increased 0.8 percent
- Regional resource sector output moved up 0.4 percent
- Regional steel sector output moved down 0.1 percent
The region’s auto sector production rose 4.1 percent in August after falling 2.8 percent in July. The nation’s auto production increased 2.4 percent in August. Midwest automotive output was up 8.4 percent in August relative to its year-ago level, and national automotive output was up 4.8 percent.
The Midwest’s machinery sector production increased 0.8 percent in August after decreasing 0.4 percent in July. The nation’s machinery production increased 1.2 percent in August. Regional machinery output was up 1.5 percent in August from its year-ago level, while national machinery output was up 4.8 percent.
The Midwest resource sector’s output moved up 0.4 percent in August after increasing by the same percentage in July. The national resource sector’s output moved up 0.2 percent in August.
Production in the regional resource sector’s food, wood, paper, and nonmetallic mineral subsectors increased from July to August, while production in its chemical subsector decreased. Compared with a year ago, regional resource output was up 1.9 percent in August, and national resource output was up 1.2 percent.
The region’s steel sector output moved down 0.1 percent in August, following an increase of 1.3 percent in July. The nation’s steel output moved up 0.1 percent in August. Regional steel output was up 2.2 percent from its August 2012 level, and national steel output was up 1.6 percent.
