The 2020 Mid-Year Economic Update_long

Chicago Fed Midwest Manufacturing Index Increases in October

The industrial production index for manufacturing increased 0.6 percent.

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.7 percent in October, to a seasonally adjusted level of 80.9 (2007=100). Revised data show the index edged up 0.2 percent in September to 80.3. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.6 percent in October. Regional output in October rose 8.6 percent from a year earlier, and national output increased 6.7 percent.

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The Midwest’s machinery sector production rose 1.5 percent in October after decreasing 0.5 percent in September. The nation’s machinery production increased 0.9 percent in October. Regional machinery output in October was up 9.0 percent from its year-earlier level, and national machinery output was up 11.7 percent.

The region’s steel sector output moved up 0.7 percent in October after remaining flat in the previous month. The nation’s steel output ticked up 0.1 percent in October. Regional steel output was up 19.3 percent from its October 2009 level, and national steel output was up 12.0 percent.

The region’s auto sector production gained 0.5 percent in October after a 0.4 percent increase in September. National auto output increased 0.7 percent in October. The Midwest’s automotive output was up 9.1 percent in October relative to its year-ago level, and national automotive output was up 5.6 percent.

The Midwest resource sector’s output increased 0.4 percent in October after gaining 0.6 percent in the previous month. The national resource sector’s output edged up 0.2 percent in October. The food, wood, paper, and nonmetallic production subsectors of the regional resource sector increased from September to October, while the chemical subsector decreased. Compared with a year ago, regional resource output was up 6.3 percent in October and national resource output was up 4.3 percent.

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