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Economy in Brief

Chicago Surveys Show Some Reversal  in Down Trends
by Louise Curley January 29, 2007

The Chicago Federal Reserve Bank's Midwest manufacturing index, shown in the attached chart, increased 0.06% in December, reversing the down trend of the past four months. The index covers activity in Iowa, Indiana, Michigan, Wisconsin and most of Illinois. The bank also publishes indexes for the Auto, Steel, Machinery and Resource industries. As its name suggests, Resource Industries include food and related products, lumber, wood and paper products, chemicals, petroleum, coal, stone and glass.

The index for the auto sector rose 1.8% from November but was 0.5% below December, 2005. The machinery sector increased 1.3% in December and was 4.9% above December, 2005. Comparable figures for the steel sector were -1.2% and 1.0%; and for the resource sector, 1.0% and 1.9%. The Decemberrelease from the bank can be seen here.

FEDERAL RESERVE BANK OF CHICAGO  Dec  06 Nov 06 Dec 05 M/M   % Y/Y   % 2006 2005 2004
SURVEY OF MANUFACTURING
 (Index 2002=100)
Total 104.5 103.9 102.6 0.58 1.85 104.4 100.8 98.8
 Autos 92.1 95.4 97.6 1.78 -0.51 97.9 95.8 96.8
 Steel 103.6 104.9 102.6 -1.24 0..97 106.7 101.6 100.1
 Machinery 112.2 110.7 106.9 1.26 4.86 109.9 103.5 99.5
 Resource 106.0 105.9 104.0 0.09 1.92 105.4 102.6 99.6
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