The Chicago Federal Reserve Monday unveiled its Midwest Manufacturing Index, which showed manufacturing activity in the region rose 0.6 percent in July, to a seasonally adjusted level of 107.6.
Revised data show the index rose 0.8 percent in June, to 107.
The Federal Reserve Board’s industrial production index for manufacturing rose 0.2 percent in July. Regional output in July was 6.1 percent higher than a year earlier, slightly higher than the national output’s 5.8 percent increase.
Three of the four regional sectors expanded in July; the Midwest machinery sector increased its production by 1.8 percent, output in the regional steel sector rose by 1.6 percent, and the regional resource output was up 0.9 percent.
During the same time period, auto output was down 1.1 percent.
Midwest machinery sector output increased 1.8 percent in July after rising 0.3 percent in June. The nation’s machinery output rose 1.0 percent in July. Regional machinery output in July was 8.8 percent above year-earlier levels, while national machinery output was up 14.3 percent.
The region’s steel sector output was up 1.6 percent in July, after rising 1.0 percent in June. The nation’s steel output was up 0.4 percent in July. Regional steel output was 10.1 percent above its July 2005 level, higher than the 8.9% increase in the nation’s steel output.
The Midwest resource sector’s output increased 0.9 percent in July after no movement in June, while the nation’s resource sector’s output was up 0.3 percent. Decrease in paper production in July was offset by increases in wood and regional chemical; nonmetallic mineral production was unchanged. Compared with a year ago, regional resource output was up 3.9 percent in July, while national resource output was up 2.4 percent.
Midwest auto sector production fell 1.1 percent in July after increasing 2.1 percent in June. The nation’s auto output was down 1.9 percent in July. Compared with a year earlier, Midwest automotive output and national auto output were up 5.2 percent.