5 Chicago Fed Charts That Reveal How The Midwest Is Leading The Manufacturing Recovery

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Manufacturing in the Midwest, is recovering faster than it is across the U.S.The Federal Reserve Bank of Chicago released its Chicago Fed Midwest Manufacturing Index (CFMMI) today, which rose 0.6% in August to 85. And is up 7.6% from a year ago.

This outpaces the national average as measured by the Fed’s industrial production index for manufacturing (IPMFG), which increased 0.4% from July, and 4.2% from a year ago.

Strength in three midwest sectors more than offset weakness in the resource sector.

Auto sector production climbed 10.3% YoY and was up 0.8% in August from the previous month

Steel sector production surged 17.1% from last year and was up 0.8% in from July

Machinery sector production jumped 12.8% YoY and was up 1.4% from July

Resource sector output slid 0.8% YoY but declined by just 0.1% from July

Overall, the Midwest manufacturing index rose 7.6% in August YoY clearly outpacing the national average

Did you know of the Japanese hair cut indicator or the Latvian hooker index?

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