Midwest Factory Report Shows Increase in Output

Manufacturing ticks up in June after May decline.

Jul. 29, 2013Steve Minter | IndustryWeek

 

The Chicago Fed Midwest Manufacturing Index moved up 0.4% in June and was 3.5% higher than in June 2012.

Factory output in the Midwest increased 0.4% in June, the Chicago Fed reported today, as its monthly index increased to 96.0. The manufacturing index slightly outgained the Federal Reserve’s industrial production index, which showed an increase of 0.3% in June. Revised data showed the index was down 0.5% in May.

Production in all four sectors tracked by the Chicago Fed increased in June:

  • Machinery production rose 0.4%
  • Resource sector output moved up 0.4%
  • Steel output improved 0.3%, and
  • Auto sector production rose 0.1%

Compared to June 2012, regional output was up 3.5% while national manufacturing output was 2.1% higher. Midwest automotive output showed the strongest gain, up 7.3% in June compared to a year ago. While machinery production was up nationally by 2.3% compared to June 2012, Midwest output was down 1.1%.

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