Chicago Fed Midwest Manufacturing Index Down in May - Modern Distribution Management

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Chicago Fed Midwest Manufacturing Index Down in May

The IPMFG increased slightly.

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.4 percent in May, to a seasonally adjusted level of 95.8 (2007 = 100). Revised data show the index was down 0.2 percent in April.

The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) moved up 0.2 percent in May. Regional output rose 4.2 percent in May from a year earlier, and national output increased 2.2 percent.

The region’s steel sector output fell 0.9 percent in May, following a decrease of 0.7 percent in the previous month. The nation’s steel output was down 0.3 percent in May. Regional steel output was up 0.8 percent from its May 2012 level, and national steel output was also up 0.8 percent.

The region’s auto sector production declined 0.7 percent in May after decreasing 0.1 percent in April. National auto production increased 0.2 percent in May. The Midwest’s automotive output was up 9.5 percent in May relative to its year-ago level, and national automotive output was up 4.7 percent.

The Midwest’s machinery sector production decreased 0.4 percent in May after also doing so in April. The nation’s machinery production improved 0.6 percent in May. Regional machinery output was up 1 percent in May from its year-ago level, and national machinery output was up 2.7 percent.

The Midwest resource sector’s output moved down 0.1 percent in May after moving up 0.3 percent in April. The national resource sector’s output was unchanged in May. Production in the regional resource sector’s food subsector decreased from April to May, while production in its wood, chemical and nonmetallic mineral subsectors increased and production in its paper subsector was unchanged. Compared with a year ago, regional resource output was up 2.3 percent in May, and national resource output was up 1.5 percent.

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