The 2020 Mid-Year Economic Update_long

Chicago Fed Midwest Manufacturing Index Up 1.7% in December

The Midwest's machinery sector production rose 2.5 percent in December.

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.7 percent in December, to a seasonally adjusted level of 87.4 (2007 = 100). Revised data show the index was unchanged in November. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.9 percent in December. Regional output in December rose 8.4 percent from a year earlier, and national output increased 4 percent.

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Production in all four regional sectors improved in December:

  • Regional machinery sector production rose 2.5 percent;
  • Regional steel sector output increased 2.4 percent;
  • Regional auto sector production moved up 1.8 percent; and
  • Regional resource sector output grew 0.9 percent.

The Midwest’s machinery sector production rose 2.5 percent in December after it was unchanged in November. The nation’s machinery production increased 1.2 percent in December. Regional machinery output in December was up 12.1 percent from its year-earlier level, and national machinery output was up 3.9 percent.

The region’s steel sector output increased 2.4 percent in December after increasing 2.1 percent in the previous month. The nation’s steel output moved up 1.8 percent in December. Regional steel output was up 14.6 percent from its December 2010 level, and national steel output was up 8.5 percent.

The region’s auto sector production moved up 1.8 percent in December after it was unchanged in November. National auto output increased 0.1 percent in December. The Midwest’s automotive output was up 14.8 percent in December relative to its year-ago level, and national automotive output was up 9.8 percent.

The Midwest resource sector’s output grew 0.9 percent in December after it decreased 0.8 percent in the previous month. The national resource sector’s output increased 0.8 percent in December. The food, wood, and chemical subsectors of the regional resource sector increased from November to December, but the paper and nonmetallic subsectors decreased. Compared with a year ago, regional resource output was down 0.4 percent in December, but national resource output was up 0.1 percent.

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