Following is the text of the Chicago Fed' Midwest Manufacturing Index from the Federal Reserve Bank of Chicago.

The Chicago Fed Midwest Manufacturing Index increased 0.5% in July 2011, to a seasonally adjusted level of 84.8. Revised data show the index increased 0.3% in June. The Federal Reserve Board’s industrial production index for manufacturing increased 0.6% in July. Regional output in July rose 6.2% from a year earlier, and national output increased 4.2%.

The regional auto, steel, and resource sectors increased in July, while the machinery sector decreased
Regional auto sector production increased 1.4%
Regional steel sector output rose 1.4%
Regional resource sector output moved up 0.2%
Regional machinery sector production decreased 0.3%

The region's auto sector production increased 1.4% in July after decreasing 0.6% in June. National auto output rose 2.7% in July. The Midwest’s automotive output was up 3.0% in July relative to its year-ago level, and national automotive output was up 3.9%.

The region's steel sector output rose 1.4% in July after moving up 0.8% in the previous month. The nation’s steel output improved 0.8% in July. Regional steel output was up 17.2% from its July 2010 level, and national steel output was up 11.2%.

The Midwest resource sector’s output moved up 0.2% in July after being unchanged in the previous month. The national resource sector’s output was unchanged in July. The food, wood, and nonmetallic sub sectors of the regional resource sector increased from June to July, but the chemical sub sector decreased and the paper sub sector was unchanged. Compared with a year ago, regional resource output was up 1.3 % in July and national resource output was up 1.6%.

The Midwest’s machinery sector production decreased 0.3% in July after increasing 1.6% in June. The nation’s machinery production moved up 0.1% in July. Regional machinery output in July was up 12.0% from its year earlier level, and national machinery output was up 6.4%.

(Sourced from www.bloomberg.net)