The Chicago Fed Midwest Manufacturing Index increased 0.6% in May, to a seasonally adjusted level of 84.0. Revised data show the index decreased 0.9% in April to 83.6. The Federal Reserve Board’s industrial production index for manufacturing increased 0.4% in May. Regional output in May rose 7.1% from a year earlier and national output increased 4.1%.

The regional steel, machinery and auto sectors increased in May
Regional steel sector output increased 1.6%
Regional machinery sector production rose 1.1%
Regional auto sector production improved 0.8%
Regional resource sector output decreased 0.5%.

The region’s steel sector output increased 1.6% in May after moving up 0.3% in the previous month. The nation’s steel output rose 0.2% in May. Regional steel output was up 16.5% from its May 2010 level, and national steel output was up 9.3%. The Midwest’s machinery sector production rose 1.1% in May after increasing 0.3% in April. The nation’s machinery production increased 1.2% in May. Regional machinery output in May was up 12.1% from its year earlier level, and national machinery output was up 8.1%.

The region’s auto sector production improved 0.8% in May after decreasing 3.8% in April. National auto output was flat in May. The Midwest’s automotive output was up 6.7% in May relative to its year-ago level, and national automotive output was up 3.8%. The Midwest resource sector’s output decreased 0.5% in May after moving down 0.2% in the previous month. The national resource sector’s output moved down by 0.2% in May. The paper, chemical, and nonmetallic subsectors of the regional resource sector increased from April to May, while the food and wood subsectors decreased. Compared with a year ago, regional resource output was up 1.4% in May and national resource output was up 1.7%.

(Sourced from Bloomberg)