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