Bloomberg News

Chicago Fed Midwest Manufacturing Index for June (Text)

July 30, 2012

Following is the text of the Chicago Fed’s Midwest Manufacturing Index from the Federal Reserve Bank of Chicago.

The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 1.1% in June, to a seasonally adjusted level of 94.1 (2007 = 100). Revised data show the index was down 1.4% in May. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.7% in June. Regional output rose 11.0% in June from a year earlier, and national output increased 5.6%.

Production in all four regional sectors increased in June:

• Regional machinery sector production grew 2.9%;

• Regional auto sector production increased 0.7%;

• Regional resource sector output improved 0.5%; and

• Regional steel sector output moved up 0.4%.

The Midwest’s machinery sector production grew 2.9% in June after decreasing 0.5% in May. The nation’s machinery production increased 1.4% in June. Regional machinery output was up 12.2% in June from its year-ago level, and national machinery output was up 7.3%.

The region’s auto sector production increased 0.7% in June after declining 4.3% in May. National auto output improved 1.1% in June. The Midwest’s automotive output was up 21.9% in June relative to its year-ago level, and national automotive output was up 15.2%.

The Midwest resource sector’s output improved 0.5% in June, following a decrease of 0.9% in May. The national resource sector’s output moved up 0.4% in June. The regional resource sector’s food, wood, paper, chemical, and nonmetallic mineral subsectors all increased their production from May to June. Compared with a year ago, regional resource output was up 2.1% in June, and national resource output was up 1.3%.

The region’s steel sector output moved up 0.4% in June after a 0.6% increase in the previous month. In contrast, the nation’s steel output decreased 0.2% in June. Regional steel output was up 11.0% from its June 2011 level, and national steel output was up 6.4%.


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