Midwest Manufacturing Output Rises in August

Federal Reserve Bank of Chicago ^ | 12. October 2004 | William A. Strauss

[1rudeboy]

Midwest Manufacturing Output Rises in August

The Chicago Fed Midwest Manufacturing Index (CFMMI) rose a very strong 1.7% in August, to a seasonally adjusted level of 115.6 (1997=100). Revised data show the index decreased 2.1% in July, to 113.7. The Federal Reserve Board’s industrial production index for manufacturing (IPMFG) rose 0.3% in August. Regional output in August was 6.9% higher than a year earlier, slightly larger than the nation’s 6.5% increase.

Output in three of the four CFMMI sub-sectors rose in August. Regional auto output surged 4.7% from its July level, steel sector production rose 0.9%, and output in the resource sector was up 0.5%. Regional machinery sector output posted the only decline, edging down 0.1% in August.

Midwest auto sector production increased a substantial 4.7% in August after falling a significant 7.9% in July. The nation’s auto output rose a more modest 1.6% in August. Compared with a year earlier, Midwest automotive output was 3.0% higher in August, while national output was up 4.9%.

The region’s steel sector output rose 0.9% in August after decreasing 0.4% in July. The nation’s steel output rose 0.4% in August. Regional steel output was 11.5% above its August 2003 level, compared with a 7.4% increase in the nation.

The Midwest resource sector’s output rose 0.5% in August after increasing 0.9% in July. The nation’s resource sector’s output was up 0.4% in August. Increases in regional chemical, paper, wood, and nonmetallic mineral production in August were offset slightly by a fall in food production. Compared with a year ago, regional resource output was up 6.1% in August, while the nation’s output was up 4.8%.

Midwest machinery sector output edged down 0.1% in August after rising a solid 1.6% in July. The nation’s machinery output increased 1.0% in August. Regional machinery output in August was 11.7% above year-earlier levels, while national output was up 14.8%.

[1rudeboy]

How can this be? I thought we sent all of our manufacturing jobs to China?

[snowsislander]

These are good numbers, and are encouraging.

I hope that the Bush campaign will find use for them.

[EdReform]

BTTT

[1rudeboy]

I'm shocked, shocked I tell you, that this thread generated such interest.

[LowCountryJoe]

It was kind of like that one where someone had posted Larry Kudlow's piece from the Wall Street Journal with all of the terrific data. That post had only 15 responses! The doom & gloom crowd wants to take no part in enthusiastic, up lifting information. We may have to disguise the true nature of the editorial or news article by fudging the thread title; "Moderate Growth Numbers Reflected Because of Outsourcing Trend", "Study Shows That Standard of Living is Up Despite Record Trade Deficit...Imagine How Good It Could Have Been".

You know that the protectionists wont have any of this, in much the same way that little Damian didn't want any part of attending service with his parents in The Omen.

[1rudeboy]

Imagine if there truly was a correlation between negative thread titles and number of responses. That would mean that half of our resident protectionists are really Democrats-in-disguise, and the other half dupes.

[LowCountryJoe]

...That would mean that half of our resident protectionists are really Democrats-in-disguise, and the other half dupes.

Some are so badly duped that they do not recognize that they have been put in disguise, this somewhat explains why they'll launch into calling others Marxist while asking for government to plan the economy...and do thus with straight faces.

You bring up correlation and that involves Beta, linear regression, standard errors, and the like. Because we're getting in to the realm of statistics, I really believe we need to call in a math major.

Now pinging.

[Toddsterpatriot]

I really believe we need to call in a math major.

You're wicked!!

[snowsislander]

You bring up correlation and that involves Beta, linear regression, standard errors, and the like. Because we're getting in to the realm of statistics, I really believe we need to call in a math major.

You may want to ping for a statistics major? I believe that in the U.S. (though not so much in Canada or the U.K.) we tend to have a separate degree program in statistics generally offered by a separate statistics department. My experience at university was that statistics was offered in a different department, and largely started from what I would call discrete mathematics.

Here's a listing of statistics programs in the U.S. and Canada; no idea how good it is, since it was only from a quick google, but from looking at the list I don't see any glaring errors (however, my background is not in statistics.) From the list, it appears that most U.S. universities, though certainly not all, have separate statistics departments.

[LowCountryJoe]

Ahhh, this was a poke at a FReeper that holds the alias of Havoc (a self described math major - its unknown whether or no he has completed his degree) who, in a post, confused the mean for the median. He continued to defend his mistake and would not admit error. Some of us have since been hounding him whenever the opportunity presents itself...you must know how cruel and heartless free trade advocates can be.