Chicago Fed factory index down slightly in June

Biz.Yahoo/Reuters ^ | August 11, 2003

[Starwind]

Chicago Fed factory index down slightly in June
Monday August 11, 11:59 am ET

 NEW YORK, Aug 11 (Reuters) - The Chicago Federal Reserve
said on Monday its Midwest manufacturing index fell 0.2 percent
in June, the third straight decline, led by falls in steel and
auto production.
 The Chicago Fed's manufacturing index fell to 97.0 in June
from a revised 97.2 in May. May was originally reported at
97.3.
 "While June marked the second consecutive monthly increase
in factory output for the nation, it was the third consecutive
monthly decline in Midwest manufacturing production," said
Chicago Fed senior economist William Strauss.
 He said the regional steel sector posted the largest
decline in output of 1.0 percent, compared with a national
decline of 0.1 percent.
 The Midwest auto sector's production fell 0.6 percent in
June, but rose 0.4 percent in the nation.
 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 making up the
seventh Federal Reserve district: Illinois, Indiana, Iowa,
Michigan and Wisconsin.
 Following is a breakdown of the index components:
 Percent change:
.          June   May   Apr   Jun03/02:
CFMMI      -0.2  -0.5  -1.0    -4.9
Auto       -0.6  -0.2  -0.9    -6.3
Steel      -1.0  -0.9  -1.2    -7.7
Machinery  -0.2  -0.3  -1.0    -3.8
Resources  +0.3  -1.1  -0.9    -3.5
 Index (1997=100)
           June    May   Apr
CFMMI      97.0   97.2   97.7
Auto       92.7   93.2   93.4
Steel      81.8   82.6   83.4
Machinery 115.0  115.2  115.6
Resources  93.0   92.7   93.7

[Starwind]

The full Chicago FRB report (.pdf) is at Chicago Fed Midwest Manufacturing Index - June 2003

[Starwind]

Fyi...

[Pikamax]

"The Midwest auto sector's production fell 0.6 percent in
June, but rose 0.4 percent in the nation."

does this mean American cars were down and the foreign car makers in other states were up? this based on my assumption most of the American car makers are located in the midwest.

[Steven W.]

classic reflection of annual slowdown in auto production & factory down periods during summer months but apparently enough to garner the attention of doom & gloomers ROFLMAO

[Starwind]

ROFLMAO

Lunchbreak in the brokerage mailroom?

[b4its2late]

Daschle must be excited about this news.....