Chicago Fed report shows Midwest manufacturing output rose in November

The Chicago Federal Reserve Bank’s Midwest Manufacturing Index (CFMMI) increased 0.4 percent in November, to a seasonally adjusted level of 81.1 (2007 = 100), it was announced on December 27. Revised data show the index edged up 0.3 percent in October to 80.8. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) increased 0.3 percent in November. Regional output in November rose 7.9 percent from a year earlier, and national output increased 6.0 percent.

Three of the four regional sectors increased in November:

• Regional steel sector output increased 2.3 percent;

• Regional machinery sector production rose 1.4 percent;

• Regional resource sector output moved up 0.4 percent; and

• Regional auto sector production decreased 2.2 percent.

The region’s steel sector output increased 2.3 percent in November after ticking down 0.1 percent in the previous month. The nation’s steel output increased 1.8 percent in November. Regional steel output was up 18.0 percent from its November 2009 level, and national steel output was up 11.0 percent.

The Midwest’s machinery sector production rose 1.4 percent in November after increasing 2.0 percent in October. The nation’s machinery production increased 1.1 percent in November. Regional machinery output in November was up 12.1 percent from its year-earlier level, and national machinery output was up 12.7 percent.

The Midwest resource sector’s output moved up 0.4 percent in November after decreasing 0.6 percent in the previous month. The national resource sector’s output also increased 0.4 percent in November. The wood, paper, and chemical production subsectors of the regional resource sector increased from October to November, while the food and nonmetallic subsectors decreased. Compared with a year ago, regional resource output was up 5.1 percent in November and national resource output was up 3.1 percent.

The region’s auto sector production decreased 2.2 percent in November after ticking down 0.1 percent in October. National auto output declined 1.7 percent in November. The Midwest’s automotive output was up 6.1 percent in November relative to its year-ago level, and national utomotive output was up 3.6 percent.