Midwest manufacturing output decreased in August

Wednesday, 29 September 2010 01:07:01 (GMT+3)   |  
       

The Chicago Federal Reserve Bank's Midwest Manufacturing Index (CFMMI) decreased 1.4 percent in August, to a seasonally adjusted level of 79.9 (2007 = 100). Revised data show the index rose 1.9 percent in July to 81.0. The Federal Reserve Board's industrial production index for manufacturing (IPMFG) edged up 0.2 percent in August. Regional output in August rose 8.5 percent from a year earlier, and national output increased 6.5 percent.

The Midwest's steel sector output grew 0.8 percent in August, and the nation's steel output was up by 1.1 percent. Regional steel output rose 21.7 percent from its August 2009 level, and well ahead of the 13.1 percent increase in the nation's steel output.

The regional auto sector was the only sector to decline in August, as output fell 6.9 percent after increasing 7.6 percent in July. National auto output decreased 1.8 percent in August. The Midwest's automotive output was up 12.2 percent in August relative to its year-ago level, and national automotive output was up 7.8 percent.

However regional machinery sector production increased 0.3 percent, after a 0.2 percent increases in July. Regional steel sector output grew 0.8 percent, and regional resource sector production rose 0.9 percent.

The nation's machinery production increased 0.7 percent in August. Regional machinery output in July was up 8.1 percent from its year-earlier level, and national machinery output was up another 12.2 percent.


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