The Federal Reserve Bank of Chicago announced today its Chicago Fed Midwest Manufacturing Index increased 1.8 percent to a seasonally adjusted 95.6 in July.
The number, which measures manufacturing activity based on labor and capital services data from Indiana, Illinois, Iowa, Michigan and Wisconsin, brings the index closer to its 100 rating from 2007. The CFMMI was up 0.9 percent in June.
Also, the industrial production index for manufacturing, calculated by the Federal Reserve Board, was up half a percent in July. Regional output increased by 12.5 percent year over year in July, compared to a 5.2 percent increase for the whole country.