The 2020 Mid-Year Economic Update_long

Chicago Fed Midwest Manufacturing Index Increases 1.3% in January

The Federal Reserve Board's industrial production index for manufacturing increased 0.8 percent.

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.3 percent in January, to a seasonally adjusted level of 90.1 (2007 = 100). Revised data show the index was up 2.2 percent in December. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.8 percent in January. Regional output in January rose 9.0 percent from a year earlier, and national output increased 4.7 percent.

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The region’s auto sector production increased 4.1 percent in January after rising 3.3 percent in December. National auto output increased 2.9 percent in January. The Midwest’s automotive output was up 17.5 percent in January relative to its year-ago level, and national automotive output was up 12.1 percent.

The Midwest’s machinery sector production rose 1.1 percent in January after moving up 2.7 percent in December. The nation’s machinery production increased 1.6 percent in January. Regional machinery output in January was up 11.1 percent from its year-earlier level, and national machinery output was up 4.6 percent.

The region’s steel sector output moved up 0.9 percent in January after increasing 2.2 percent in the previous month. The nation’s steel output increased 0.6 percent in January. Regional steel output was up 13.4 percent from its January 2011 level, and national steel output was up 8.7 percent.

The Midwest resource sector’s output decreased 0.8 percent in January, following an increase of 1.5 percent in the previous month. The national resource sector’s output moved down 0.3 percent in January. The food, wood, and nonmetallic subsectors of the regional resource sector decreased from December to January, but the paper and chemical subsectors increased. Compared with a year ago, regional resource output was down 0.3 percent in January, but national resource output was up 0.2 percent.

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