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Chicago Fed Midwest Manufacturing Index increased 2.6%
The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 2.6% in July, to a seasonally adjusted level of 79.7 (2002 = 100), its first increase in over a year and highest since September 2003. Revised data show the index edged down 0.3% in June, to 77.7. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was up 1.1% in July. Regional output in July declined 22.8% from a year earlier—more of a decline than the 14.3% decrease in national output.
While the overall index moved sharply higher, being primarily focused on the regional auto sector, the other three regional sectors decreased in July:
Regional auto sector production jumped 16.3%;
Regional steel sector output edged down 0.1%;
Regional resource sector output decreased 0.2%; and
Regional machinery sector output moved down 2.2%.
Posted: August 24, 2009 Monday 12:00 PM