Source: Federal Reserve Bank of Chicago
Release: Chicago Fed Midwest Economy Index
This series represents the contributions of Midwest Region's construction sector to the Relative Midwest Economy Index (RMEI). The Midwest Region contribution specifically focuses on indicators existing only at a regional level. This series is the weighted average of regional variables measuring the growth in nonfarm business activity based on construction sector indicators for the Midwest.
A zero value represents an average contribution to RMEI by the Midwest Region's construction sector, a rate historically consistent with the growth of the national economy, whereas positive values indicate above-average relative contribution; and negative values indicate below average relative contribution.
For further information about the Relative 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 Relative Midwest Economy Index: Midwest Region Contribution: Construction Sector [RCONSTRM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RCONSTRM683SFRBCHI, March 3, 2024.