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The Federal Reserve Boardâ??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 nationâ??s auto output decreased 1.7% in February. The Midwestâ??s automotive output was up 10.0% in February relative to its year-ago level, and the nationâ??s auto output was up 6.1%.
The Midwest resource sectorâ??s output moved down 0.5% in February after increasing 1.3% in January. The national resource sectorâ??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 Midwestâ??s machinery sector production moved down 0.2% in February after increasing 1.7% in January. The nationâ??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 regionâ??s steel sector output increased 0.9% in February after rising 1.5% in January. The nationâ??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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