The Chicago Fed Midwest Manufacturing Index fell 1.2% in August to a seasonally adjusted level of 94.1, as two of the four regional sectors gained, the Federal Reserve Bank of Chicago reported Thursday.
Nationally, the Federal Reserve Board's industrial production index for manufacturing slid 0.7% in August. Overall manufacturing output in the region gained 10.1% from a year earlier, compared to 4.0% growth in output nationally in that period.
The July report showed a revised 1.5% increase to 95.3, originally reported as a 1.8% gain to 95.6.
The regional auto sector's output decreased 4.0% in the month, after 5.5% growth in July, while national output fell 2.3%. Nationally, auto sector output soared 11.4% from a year ago while the Midwest auto sector's output surged 21.7% year-over-year, according to the Fed.
The regional steel sector's output dipped 0.5% in the month, following a 0.4% rise in July. Nationally, steel sector output was off 0.3% in the month. On a year-over-year basis, steel output grew 8.6% in the region while climbing 5.3% in the nation.
The regional resource sector's output rose 0.1% in August, following a 0.4% jump in July. Nationally, resource output was unchanged in the month. Compared to August 2011, regional resource output grew 2.1%, while national resource output rose 1.0%. "Production in the regional resource sector's food subsector increased from July to August, while production in its paper, chemical, and nonmetallic mineral subsectors decreased; output from its wood subsector was unchanged," the Fed said.
The regional machinery sector's output increased 0.1% in the month, following a 1.7% drop in July. Nationally, machinery sector output slid 0.7% in the month. On a year-over-year basis, machinery output grew 9.4% in the region while rising 4.8% in the nation.