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%.