Midwest Manufacturing Output Decreases
The Chicago Fed Midwest Manufacturing Index (CFMMI) decreased 0.4% in May, to a
seasonally adjusted level of 95.8 (2007 = 100). Revised data show the index was down 0.2%
in April. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) moved up 0.2% in May. Regional output rose 4.2% in May from a year earlier, and national output increased 2.2%.
Production in all four regional sectors decreased in May:
•Regional steel sector output fell 0.9%;
•Regional auto sector production declined 0.7%;
•Regional machinery sector production decreased 0.4%; and
•Regional resource sector output moved down 0.1%
See the full report on Midwest Manufacturing
Since this report deals with Output, I am always more interested in Incoming Orders since that is a better indicator of future output.
I am seeing strong incoming orders making for a busy summer!