The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.3 percent in December, to a seasonally adjusted level of 84.1 (2002 = 100). Revised data, released on January 27, shows the index increased 1.0 percent in November to 84.4. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) was unchanged in December. Regional output in December declined 6.4 percent from a year earlier, and national output decreased 1.4 percent.
The regional resource and auto sectors decreased in December, while the machinery and steel sectors increased:
- Regional resource sector output moved down 1.0 percent;
- Regional auto sector production edged down 0.2 percent;
- Regional machinery sector output grew 0.6 percent; and
- Regional steel sector output increased 1.3 percent.
The Midwest resource sector’s output moved down 1.0 percent in December after rising 1.3 percent in November. The national resource sector’s output was unchanged in December. Three of the five subsectors of the regional resource sector – food, paper and non-metallic production – decreased from November to December, while wood and chemical production increased. Compared with a year ago, regional resource output was up 4.6 percent in December, and national resource output was up 5.8 percent.
Regional auto sector production edged down 0.2 percent in December after increasing 0.6 percent in November. The nation’s auto output rose 0.3 percent in December. The Midwest’s automotive output was down 8.8 percent in December relative to its year-ago level, and the nation’s auto output was down 3.5 percent.
The Midwest’s machinery sector output moved up 0.6 percent in December after decreasing 0.5 percent in November. The nation’s machinery output increased 1.2 percent in December. Regional machinery output in December was 15.8 percent below year-earlier levels, and national machinery output was down 3.8 percent.
The region’s steel sector output increased 1.3 percent in December after rising 2.5 percent in November. The nation’s steel output was up 0.7 percent in December. Regional steel output dropped 13.9 percent from its December 2008 level, and national steel output fell 9.5 percent.
