Posted June 28, 2010
Midwest manufacturing activity increases
The Chicago Fed Midwest Manufacturing Index increased 1.7% in May, to a seasonally adjusted level of 86.7.
Revised data show the index rose 1.3% in April to 85.2. The Federal Reserve Board's industrial production index for manufacturing (IPMFG) increased 0.8% in May. Regional output in May rose 13.2% from a year earlier, and national output increased 8.4%.
All four regional industry sectors increased.
The region's steel sector output grew 3.7% in May after increasing 2.4% in April. The nation's steel output was up 2.0% in May. Regional steel output rose 24.0% from its May 2009 level, and national steel output was up 15.1%.
Regional auto sector production rose 3.6% in May after moving up 1.1% in April. National auto output grew 2.0% in May. The Midwest's automotive output was up 38.1% in May relative to its year-ago level, and the nation's auto output was up 16.2%.
The Midwest's machinery sector production increased 1.1% in May after rising 2.7% in April. The nation's machinery production increased 1.2% in May. Regional machinery output in May was up 5.0% from year-earlier levels, and national machinery output was up 11.7%.
The Midwest resource sector's output edged up 0.2% in May after ticking up 0.1% in April. The national resource sector's output was down 0.2% in May. Four subsectors of the regional resource sector—food, wood, paper, and nonmetallic production—increased from April to May, while chemical production decreased.
