The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.3% in August to a seasonally adjusted level of 80.1 (2002 = 100). Revised data show the index rose 3.1% in July to 80.4. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was up 0.6% in August. Regional output in August declined 20.8% from a year earlier – lower than the 12.0% decrease in national output.
The decline was focused in the regional auto sector, while the other three regional sectors moved higher.
Regional auto sector production declined by a large 4.2% in August after jumping up 16.4% in July. The nation’s auto output rose 1.8% in August. The Midwest’s automotive output was down 29.3% in August relative to its year-ago value, and the nation’s auto output was down 14.6%.
The Midwest’s machinery sector output rose 0.3% in August after decreasing 0.6% in July. The nation’s machinery output decreased 0.7% in August. Regional machinery output in August was 26.2% below year-earlier levels, and national machinery output was down 15.0%.
The region’s steel sector output increased 0.6% in August after rising 1.9% in July. The nation’s steel output was up 0.3% in August. Regional steel output dropped 35.6% from its August 2008 level, and national steel output fell 24.5%.
The Midwest resource sector’s output rose 1.3% in August after moving down 0.5% in July. The national resource sector’s output was up 0.8% in August. Two of the five subsectors of the resource sector – food and chemical production – increased from July to August, while paper, nonmetallic mineral, and wood production decreased. Compared with a year ago, regional resource output was down 6.6% in August, and national resource output declined 5.1%.
