The Chicago Federal Reserve Bank said on Monday its Midwest manufacturing index rose in November to the highest in nearly a year in a broad-based expansion that covered all of the major industry sectors.
The index climbed 1.2 percent to a seasonally adjusted 84.2 -- the highest since December 2008 -- from an upwardly revised 83.2 in October. The October reading was originally reported at 82.9.
All four regional industry sectors -- steel, autos, resources and machinery -- improved in November.
Compared with a year earlier, however, Midwest output was down 10.0 percent, much steeper than the 4.4 percent national decline.
Midwest auto sector production increased 1.1 percent in November after rising 1.5 percent in October. Compared with a year earlier, though, automotive output was down 9.5 percent.
Regional steel output rose 2.5 percent after edging up 0.1 percent in October.
Machinery sector output rose 0.7 percent last month after increasing 1.2 percent in October, while resource sector output was up 0.9 percent on the month.
Four of the five subsectors of the regional resource sector -- paper, wood, chemical and nonmetallic production -- increased from October to November, while food production decreased.
Compared with a year ago, regional resource output was down 0.1 percent in November, while national resource output was up 1.8 percent.
The Chicago Fed Midwest Manufacturing Index is a monthly estimate of manufacturing output in the region by major industries. The survey covers the five states that make up the seventh Federal Reserve district: Illinois, Indiana, Iowa, Michigan and Wisconsin.
(Reporting by Burton Frierson; Editing by Dan Grebler)