Chicago Fed Midwest Manufacturing Index Up 1.8% in July - Modern Distribution Management

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Chicago Fed Midwest Manufacturing Index Up 1.8% in July

The Federal Reserve Boards industrial production index for manufacturing rose 0.5 percent.

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.8 percent in July, to a seasonally adjusted level of 95.6 (2007 = 100). Revised data show the index was up 0.9 percent in June.

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The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.5 percent in July. Regional output rose 12.5 percent in July from a year earlier, and national output increased 5.2 percent.

Production in two of the four regional sectors increased in July.

The region’s auto sector production rose 6.3 percent in July after increasing 0.9 percent in June. National auto output improved 2.3 percent in July. The Midwest’s automotive output was up 30 percent in July relative to its year-ago level, and national automotive output was up 15.7 percent.

The Midwest resource sector’s output moved up 0.3 percent in July, following an improvement of 0.1 percent in June. The national resource sector’s output moved up 0.2 percent in July. Production in the regional resource sector’s food subsector increased from June to July, while production in its wood and nonmetallic mineral subsectors decreased; output from its paper and chemical subsectors was unchanged. Compared with a year ago, regional resource output was up 1.8 percent in July, and national resource output was up 1.1 percent.

The region’s steel sector output decreased 0.1 percent in July after moving down 0.2 percent in the previous month. In contrast, the nation’s steel output increased 0.5 percent in July. Regional steel output was up 8.1 percent from its July 2011 level, and national steel output was up 5.2 percent.

The Midwest’s machinery sector production declined 0.8 percent in July after increasing 2.6 percent in June. By contrast, the nation’s machinery production moved up 0.1 percent in July. Regional machinery output was up 11.6 percent in July from its year-ago level, and national machinery output was up 6.8 percent.

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