Chicago Fed Midwest factory activity up in July

NEW YORK, Aug 26 (BestGrowthStock) – The Chicago Federal Reserve
Bank said on Thursday its Midwest manufacturing index rose in
July, driven by gains in the auto, steel and machinery sectors.

The index rose 2.2 percent to a seasonally adjusted 81.4
after falling 0.2 percent in June to 79.6.

Compared with a year earlier, Midwest output increased 13.1
percent, more than the 8.1-percent national increase during
that same period.

Midwest auto sector production rose by 7.2 percent in July
after falling by 0.4 percent in June. Compared with a year
earlier, the region’s automotive output was up 27 percent.

Regional steel output grew by 2.2 percent after increasing
by 0.5 percent in June. Output was up by 24.7 percent compared
to its July 2009 level.

Machinery sector output increased by 0.9 percent in July
after rising 0.5 percent in June.

Chicago Fed Midwest factory activity up in July