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Midwest manufacturing activity posted a record high in August with the auto sector and the steel sector both showing strong performances. The Federal Reserve Bank of Chicago reported Friday that the Chicago Fed Midwest Manufacturing Index increased 0.9 percent in August following a revised 0.6 percent increase in July. The index in August was 123.2. The Federal Reserve Board’s industrial production index for manufacturing increased by 1 percent in August and 0.5 percent in July. Auto sector growth was the strongest of any sector, with an increase of 2.6 percent following a 0.5 percent decrease in July.
