Chicago Fed: Midwest Mfg. Index down slightly

The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.8% in February, to a seasonally adjusted level of 82.6 (2002 = 100).

Revised data show the index increased 2.0% in January to 83.2. The Federal Reserve Board's industrial production index for manufacturing (IPMFG) ticked down 0.2% in February. Regional output in February edged down 0.5% from a year earlier, and national output increased 2.0%.

Regional auto sector production declined 2.8% in February after rising 4.7% in January.
The nation's auto output decreased 1.7% in February. The Midwest's automotive output was up 10.0% in February relative to its year-ago level, and the nation's auto output was up 6.1%.

The Midwest resource sector's output moved down 0.5% in February after increasing 1.3% in January. The national resource sector's output was down 0.4% in February. Three of the five subsectors of the regional resource sector—food, chemical, and nonmetallic production— decreased from January to February, while wood and paper production increased. Compared with a year ago, regional resource output was up 3.0% in February and national resource output was up 3.9%.

The Midwest's machinery sector production moved down 0.2% in February after increasing 1.7% in January. The nation's machinery production increased 0.8% in February. Regional machinery output in February was down 12.8% from year-earlier levels, and national machinery output was up 3.8%.

The region's steel sector output increased 0.9% in February after rising 1.5% in January.
The nation's steel output was up 0.2% in February. Regional steel output fell 2.1% from its February 2009 level, and national steel output was unchanged.

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