Chicago Fed Factory Index Jumps 1.0% in Feb. to 91.7

The Chicago Fed Midwest manufacturing index gained 1.0% in February to a seasonally adjusted level of 91.7, the Federal Reserve Bank of Chicago reported Monday.

Manufacturing output in the region gained 10.1% from a year earlier, compared to 5.4% growth in national output.

The regional auto sector's output increased 2.2% in the month, after a 5,1% surge in January, while national output grew 0.9%. Nationally, auto sector output gained 12.9% from a year ago while the Midwest auto sector's output increased 18.7% year over year, the Fed said.

The regional machinery sector's output increased 1.2% in the month, following a 0.7% climb in January. Nationally, machinery sector output grew 0.6% in the month. On a year-over-year basis, machinery output grew 10.9% in the region while rising 4.8% in the nation.

The Midwest steel sector's output rose 0.9% in February, following a 1.5% gain in January. Nationally, steel sector output was up 0.2% in the month. Year-over-year steel output grew 13.9% in the region while climbing 9.8% in the nation.

The regional resource sector's output slid 0.2% in February, following a 0.7% rise in January. Nationally, resource output fell 0.2% in the month. Compared to February 2011, regional resource output grew 2.5%, while national resource output rose 1.5%.

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