Posted on 11/10/2003 1:35:39 PM PST by Starwind
Chicago Fed factory index rises in September
Monday November 10, 12:00 pm ET
NEW YORK, Nov 10 (Reuters) - The Chicago Federal Reserve Bank said on Monday its Midwest manufacturing index rose in September for the first time since June, suggesting the broad-based U.S. economic recovery may be reaching the country's factory segment. The Chicago Fed's manufacturing index ticked up 2.7 percent to 110.0 in September from a downwardly revised 107.1 in August. Compared with a year earlier, output in the Midwest was down 4.0 percent, while national output was 0.6 percent below year-ago levels. Factory output in the automotive sector increased sharply, by 7.1 percent in September, leading all other segments. Machinery output, the second-highest rise, was up 1.1 percent. The Chicago Fed Midwest Manufacturing Index is a monthly estimate of manufacturing output in the region by major industries. The survey covers the five states that make up the seventh Federal Reserve district: Illinois, Indiana, Iowa, Michigan and Wisconsin. Following is a breakdown of the index components: . Percent change: . Sept Aug Sept 02/03 CFMMI +2.7 -1.1 -4.0 Auto +7.1 -3.0 -1.6 Steel +0.3 +0.1 -7.4 Machinery +1.1 +1.4 -3.2 Resources: -0.2 -1.3 -5.4 Index (1997=100) . Sept Aug CFMMI 110.0 107.1 Auto 155.8 145.5 Steel 96.1 95.8 Machinery 92.4 91.4 Resources: 95.2 95.4
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