Midwest Manufacturing Index shows Nov. uptick

By Alejandra Cancino
Posted Dec. 27, 2010 at 11:14 a.m.

The Chicago Fed Midwest Manufacturing Index increased slightly in November to 81.1 percent, according to data released Monday by the Federal Reserve Bank of Chicago.

October’s index was revised to 80.8 percent, a .3 percent increase from September.

Three of the four regional sectors — steel, machinery, resource and auto — experienced small increases from the prior month.

Output in the region’s steel sector increased by 2.3 percent in November and by 18 percent from a year earlier. By comparison, the national steel output increased by 1.8 percent in November and by 11 percent from its year-earlier level.

Production in the region’s machinery sector increased by 1.4 percent in November and by 12.1percent from its year-earlier level. The national production increased by 1.1 percent by 12.7 percent from November 2009.

In the resource sector, output increased by 0.4 percent. It is, however, a 5.1 percent increase from November 2009. National output increased by .4 percent in November and by 3.1 percent from its year-earlier level.

Despite a 2.2 percent production decline in November the regional auto sector, the sector saw a 6.1 percent increase from November 2009. The national output declined by 1.7 percent, but had a 3.6 percent increase from last year.

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