1983 1984 1985 1986 1987 1988 1989 1990
In August, manufacturing activity in the Midwest declined 0.6%, marking the
second monthly decline after the peak for the current expansion in June.
While over half of the 17 industries in the MMI recorded declines in August,
two key industries showed improvement—machinery and metalworking.
Over the last three months, strength in Midwest manufacturing activity has
centered on the metalworking and transportation industries. Nationally, the
Federal Reserve Board’s Index OfIndustrial Production has been buoyed by a
relatively strong durable goods manufacturing sector, also led by the metal-
working- and transportation-related industries. However, planned auto pro-
duction for the fourth quarter indicates softening in the transportation indus-
try in the months ahead.
NOTE: The MMI and the USMI are composite
indexes of 17 manufacturing industries and
are derived from econometric models that
estimate output from monthly hours worked
and kilowatt hours data. For a discussion of
the methodology, see “Reconsidering the
Regional Manufacturing Indexes,” Economic
Perspectives, Federal Reserve Bank of Chicago,
Vol. XIII, No. 4, July/August 1989.
Chicago Fed Letter
FEDERAL RESERVE BANK OF CHICAGO
Public Information Center
P.O. Box 834
Chicago, Illinois 60690
(312) 322-5111
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