The 2020 Mid-Year Economic Update_long

Chicago Fed Midwest Manufacturing Index Up 0.8% in February

Revised data show the index was up 0.4 percent in January.

The Chicago Fed Midwest Manufacturing Index increased 0.8 percent in February, to a seasonally adjusted level of 96.3 (2007 = 100). Revised data show the index was up 0.4 percent in January.

The Federal Reserve Board’s industrial production index for manufacturing moved up 0.6 percent in February. Regional output rose 5.9 percent in February from a year earlier, and national output increased 2.4 percent.

The Midwest’s machinery sector production rose 1.7 percent in February after decreasing 0.1 percent in January. The nation’s machinery production increased 0.7 percent in February. Regional machinery output was up 2 percent in February from its year-ago level, and national machinery output was up 1.8 percent.

The region’s steel sector output improved 1.6 percent in February, following a decline of 0.4 percent in the previous month. The nation’s steel output was up 0.1 percent in February. Regional steel output was up 3.8 percent from its February 2012 level, and national steel output was up 1.7 percent.

The Midwest resource sector’s output moved up 0.5 percent in February after holding steady in January. The national resource sector’s output increased 0.3 percent in February. Production in all five of the regional resource sector’s subsectors (wood, paper, chemical, food, and nonmetallic mineral) increased from January to February. Compared with a year ago, regional resource output was up 2.6 percent in February, and national resource output was up 1.6 percent.

The region’s auto sector production decreased 0.1 percent in February after increasing 1.9 percent in January. National auto production increased 0.9 percent in February. The Midwest’s automotive output was up 12.4 percent in February relative to its year-ago level, and national automotive output was up 5.7 percent.

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