Midwest manufacturing output up in June

The Chicago Fed’s Midwest Manufacturing Index increased 0.4 percent in June up from -0.5 percent in May.

The index is a composite of 15 manufacturing industries that measures monthly changes in regional activity by the number of hours worked.

It is now at a seasonally adjusted level of 96.0, closer to its 2007 level of 100.

Regionally, the machinery sector saw production rise by 0.4 percent, resource sector output was up 0.4 percent, steel sector output grew by 0.3 percent and auto sector production increased by 0.1 percent.

A different index, the Federal Reserve Board’s industrial production index for manufacturing, showed regional output was up 3.5 percent in June from 2012, and national output was up 2.1 percent.

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