The Chicago Fed Midwest Manufacturing Index rose 1.8% in July to a seasonally adjusted level of 95.6, as two of the four regional sectors gained, the Federal Reserve Bank of Chicago reported Monday.
Nationally, the Federal Reserve Board's industrial production index for manufacturing grew 0.5% in July. Overall manufacturing output in the region gained 12.5% from a year earlier, compared to 5.2% growth in output nationally in that period.
The June report showed a revised 0.9% increase to 93.9, originally reported as a 1.1% gain to 94.1.
The regional auto sector's output increased 6.3% in the month, after 0.9% growth in June, while national output rose 2.3%. Nationally, auto sector output soared 15.7% from a year ago while the Midwest auto sector's output surged 30.0% year-over-year, according to the Fed.
The regional resource sector's output rose 0.3% in July, following a 0.9% jump in June. Nationally, resource output was up 0.2% in the month. Compared to July 2011, regional resource output grew 1.8%, while national resource output rose 1.1%. " Production in the regional resource sector's food subsector increased from June to July, while production in its wood and nonmetallic mineral subsectors decreased; output from its paper and chemical subsectors was unchanged," the Fed said.
The regional steel sector's output dipped 0.1% in the month, following a 0.2% slip in June. Nationally, steel sector output was up 0.5% in the month. On a year-over-year basis, steel output grew 8.1% in the region while climbing 5.2% in the nation.
The regional machinery sector's output decreased 0.8% in the month, following a 2.6% rise in June. Nationally, machinery sector output grew 0.1% in the month. On a year-over-year basis, machinery output grew 11.6% in the region while rising 6.8% in the nation.
