Chicago Fed Midwest Manufacturing Index February 2013

Midwest Manufacturing Output Grows in February

Region outpaces national manufacturing production.

The Chicago Fed Midwest Manufacturing Index (CFMMI) continued to edge up in February, reaching 96.3 (2007 = 100). The measure of manufacturing production increased 0.8%, following a revised 0.4% increase in January, and outpaced the Federal Reserve’s national production index increase of 0.6%.

Manufacturing production in the Midwest was 5.9% higher in February than a year earlier. National output was 2.4% higher in February than the year before.

Production in three sectors tracked by the Chicago Fed increased in February: machinery (1.7%), steel (1.6%) and resources (wood, paper, chemical, food and nonmetallic minerals) which was up 0.5%.

Auto production decreased 0.1% in February in the region after increasing 1.9% in January. Compared to February 2012, auto production was up 12.4%, while national auto output was up 5.7%.

TAGS: Demographics
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