March Was a Lion of a Month for Midwest Manufacturers
Author(s): Josh Cable
Apr. 29, 2013
With the auto industry roaring back, March was a lion of a month for Midwest manufacturers.
Manufacturing output in the region increased 6.4 percent compared with March 2012, according to the latest data from the Federal Reserve Bank of Chicago.
Meanwhile, national manufacturing output in March increased 2.9 percent year-over-year.
From February to March, the Chicago Fed Midwest Manufacturing Index increased 0.3 percent.
The index measures manufacturing output in Illinois, Indiana, Iowa, Michigan and Wisconsin, which comprise the Seventh Federal Reserve District.
Output in the region's automotive sector was up 1.2 percent from February to March and up 13.3 percent from March 2012 to March 2013, according to the Chicago Fed.
Nationally, March automotive output was up 5.6 percent year-over-year.
In the five-state region covered by the Chicago Fed Midwest Manufacturing Index, the steel sector saw a 1.1 percent drop in output from February to March.
However, the region's March steel output was up 4.3 percent year-over-year.