Factory output in the Midwest increased 0.4% in June, the Chicago Fed reported today, as its monthly index increased to 96.0. The manufacturing index slightly outgained the Federal Reserve’s industrial production index, which showed an increase of 0.3% in June. Revised data showed the index was down 0.5% in May.
Production in all four sectors tracked by the Chicago Fed increased in June:
- Machinery production rose 0.4%
- Resource sector output moved up 0.4%
- Steel output improved 0.3%, and
- Auto sector production rose 0.1%
Compared to June 2012, regional output was up 3.5% while national manufacturing output was 2.1% higher. Midwest automotive output showed the strongest gain, up 7.3% in June compared to a year ago. While machinery production was up nationally by 2.3% compared to June 2012, Midwest output was down 1.1%.
About the Author
Steve Minter
Steve Minter, Executive Editor
Focus: Leadership, Global Economy, Energy
Call: 216-931-9281
Follow on Twitter: @SgMinterIW
An award-winning editor, Executive Editor Steve Minter covers leadership, global economic and trade issues and energy, tackling subject matter ranging from CEO profiles and leadership theories to economic trends and energy policy. As well, he supervises content development for editorial products including the magazine, IndustryWeek.com, research and information products, and conferences.
Before joining the IW staff, Steve was publisher and editorial director of Penton Media’s EHS Today, where he was instrumental in the development of the Champions of Safety and America’s Safest Companies recognition programs.
Steve received his B.A. in English from Oberlin College. He is married and has two adult children.