The Chicago Fed Midwest manufacturing index dipped 0.3% in December to a seasonally adjusted level of 84.1, the Federal Reserve Bank of Chicago reported yesterday
The latest index followed a November report that showed a revised 1.0% increase to 84.4, originally reported as a 1.2% rise to 84.2, .
Nationally, the Federal Reserve Board’s industrial production index for manufacturing was flat in December.
Overall manufacturing output in the region dropped 6.4% from a year earlier, compared to a 1.4% decline in output nationally in that period.
The regional steel sector’s output increased 1.3% in the month, following a 2.5% gain in November.
Nationally, steel sector output was up 0.7% in the month. On a year-over-year basis, steel output fell 13.9% in the region while falling 9.5% in the nation.
The regional machinery sector’s output gained 0.6% in the month, following a 0.5% increase in November.
