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Index Shows Manufacturing Output Increased in November

December 27, 2012

This morning, the Federal Reserve Bank of Chicago released November 2012 figures for the Chicago Fed Midwest Manufacturing Index (CFMMI), an index that uses hours worked data as a measure of industry output in the Midwest region (IL, IN, IA, MI, WI).

The overall CFMMI increased 1.6% in November to a seasonally adjusted level of 93.7 (2007 = 100); also, revised data show that the index was down 1.1% between September (93.2) and October (92.2). Regional and national output increased in November from a year earlier by 7.3% and 3.1% respectively. Between October and November 2012, production in all four regional sectors increased:

  • +3.6% auto sector (plastics and rubber products, transportation equipment)
  • +0.9% steel sector (primary metal industries, fabricated metal products)
  • +0.7% resource sector (food, paper, wood products, chemicals and nonmetallic mineral products)
  • +0.2% machinery sector (machinery, computers, & electronic equipment, appliances and components manufacturing)

The full press release can be found online.