The 2020 Mid-Year Economic Update_long

Chicago Fed Midwest Manufacturing Index Up 1% in February

The Federal Reserve Board's industrial production index for manufacturing increased 0.4 percent.

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1 percent in February, to a seasonally adjusted level of 91.7 (2007 = 100). Revised data show the index was up 2.1 percent in January. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.4 percent in February. Regional output in February rose 10.1 percent from a year earlier, and national output increased 5.4 percent.

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The region’s auto sector production increased 2.2 percent in February after rising 5.1 percent in January. National auto output increased 0.9 percent in February. The Midwest’s automotive output was up 18.7 percent in February relative to its year-ago level, and national automotive output was up 12.9 percent.

The Midwest’s machinery sector production rose 1.2 percent in February after moving up 0.7 percent in January. The nation’s machinery production increased 0.6 percent in February. Regional machinery output in February was up 10.9 percent from its year-ago level, and national machinery output was up 4.8 percent.

The region’s steel sector output moved up 0.9 percent in February after increasing 1.5 percent in the previous month. The nation’s steel output increased 0.2 percent in February. Regional steel output was up 13.9 percent from its February 2011 level, and national steel output was up 9.8 percent.

The Midwest resource sector’s output decreased 0.2 percent in February, following an increase of 0.7 percent in January. The national resource sector’s output also moved down 0.2 percent in February. The food, wood, and chemical subsectors of the regional resource sector decreased from January to February, but the paper and nonmetallic subsectors increased. Compared with a year ago, regional resource output was up 2.5 percent in February, and national resource output was up 1.5 percent.

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