NEW YORK - The Chicago Fed Midwest Manufacturing Index was unchanged in June at a seasonally adjusted level of 84.0, as two of the four regional sectors showed improvement, the Federal Reserve Bank of Chicago reported Wednesday.
Nationally, the Federal Reserve Board's industrial production index for manufacturing was also unchanged in June. Overall manufacturing output in the region gained 7.1% from a year earlier, compared to 4.1% growth in output nationally in that period.
The May report showed a revised 0.4% rise in May, originally reported as a 0.6% increase to 84.0.
The regional steel sector's output jumped 1.7% in the month, following a 1.9% rise in May. Nationally, steel sector output was up 1.5% in the month. On a year-over-year basis, steel output grew 17.3% in the region while climbing 10.3% in the nation.
The regional machinery sector's output grew 1.0% in the month, following a 1.0% increase in May. Nationally, machinery sector output dipped 0.3% in the month. On a year-over-year basis, machinery output grew 12.4% in the region while rising 6.9% in the nation.
The regional resource sector's output slipped 0.6% in June, following a 1.1% drop in May. Nationally, resource output was 0.2% lower in the month. Compared to June 2010, regional resource output was up 0.4%, while national resource output rose 1.2%. "The food, wood, paper, and nonmetallic subsectors of the regional resource sector decreased from May to June, but the chemical, subsector increased,” the Fed said.
The regional auto sector's output decreased 1.3% in the month, after a 1.0% rise in May, while national output fell 0.6%. Nationally, auto sector output gained 4.5% from a year ago while the Midwest auto sector's output increased 7.0% year-over-year, according to the Fed.
