Source: Federal Reserve Bank of Chicago
Release: Chicago Fed Midwest Economy Index
This series represents the contributions of Michigan to the Midwest Economy Index (MEI). This series is the weighted average of state variables measuring the growth in nonfarm business activity based on indicators of four broad sectors of the Michigan's economy: 1) manufacturing, 2) construction and mining, 3) services, and 4) consumer spending.
A zero value represents an average contribution to the MEI by the state of Michigan, whereas a positive value indicates that an above-average contribution to MEI; and negative values indicate below-average contribution to MEI.
For further information about the Midwest Economy Index, go to http://midwest.chicagofedblogs.org/archives/2011/03/mei_by_scott_br.html and http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf.
Federal Reserve Bank of Chicago, Contributions to the Chicago Fed Midwest Economy Index: Michigan Contribution [MIINDEXM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MIINDEXM683SFRBCHI, September 22, 2020.