Source: Federal Reserve Bank of Chicago  

Release: Chicago Fed Midwest Economy Index  

Units:  Index Standard Deviation, Seasonally Adjusted

Frequency:  Monthly

This series represents the contributions of the construction sector to the Relative Midwest Economy Index (RMEI). This series is a weighted average of state and regional indicators encompassing the entirety of the five states in the Seventh Federal Reserve District (Illinois, Iowa, Iowa, Michigan, and Wisconsin).

The series measures the growth in nonfarm business activity in the Midwest Region based on the construction sector.

A zero value represents an average contribution to RMEI by the Midwest 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 .