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Chicago Fed Midwest Manufacturing Index Increases in July

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 2.2% in July, to a seasonally adjusted level of 81.4 (2007 = 100). Revised data show the index fell 0.2% in June to 79.6. The Federal Reserve Board's industrial production index for manufacturing (IPMFG) increased 1.1% in July. Regional output in July rose 13.1% from a year earlier, and national output increased 8.1%.

The region's auto sector production rose 7.2% in July after edging down 0.4% in June. National auto output increased 4.4% in July. The Midwest's automotive output was up 27% in July relative to its year-ago level; more than double the nation's auto output 12.5% gain.

The region's steel sector output grew 2.2% in July after a 0.5% increase in June. The nation's steel output was up 1.1% in July. Regional steel output rose 24.7% from its July 2009 level, and well ahead of the nation's steel output 14.4% increase.

The Midwest's machinery sector production went up 0.9% in July after increasing 0.5% in June. The nation's machinery production increased 0.8% in July. Regional machinery output in July was up 9.6% from year-earlier levels, and national machinery output was up 13.3%.

The Midwest resource sector's output ticked down 0.1% in July after declining 0.4% in June. The national resource sector's output edged up 0.2% in July. Two subsectors of the regional resource sector – food and wood production – decreased from June to July, while paper, chemical and nonmetallic production increased. Compared with a year ago, regional resource output was up 5.6% in July, and national resource output was up 3.5%.

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