Chicago Fed Manufacturing Index Improves in Aug.

"The Chicago Fed Midwest Manufacturing Index (CFMMI) increased 0.6% in August, to a seasonally adjusted level of 85.0 (see chart). Revised data show the index increased 0.3% in July. Regional manufacturing output in August rose 7.6% from a year earlier, and national output increased 4.2%.

The Midwest’s automotive output was up 10.3% in August relative to its year-ago level, and national automotive output was up 7.2%. Regional steel output was up 17.1% from its August 2010 level, and national steel output was up 10.3%."

MP: The CFMMI increased for the fourth straight month in August, and except for April has increased in each of the last 12 months.  The August level of 85.0 was the highest monthly index in almost three years, since October 2008.