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Contributions to the Chicago Fed Relative Midwest Economy Index: Michigan Contribution: Consumer Spending Sector (RCONSUMIM683SFRBCHI)

Observation:

May 2021: 0.04798 (+ more)   Updated: Jun 30, 2021
May 2021:  0.04798  
Apr 2021:  0.05282  
Mar 2021:  0.19336  
Feb 2021:  0.01914  
Jan 2021:  -0.00323  
View All

Units:

Index Standard Deviation,
Seasonally Adjusted

Frequency:

Monthly

NOTES

Source: Federal Reserve Bank of Chicago  

Release: Chicago Fed Midwest Economy Index  

Units:  Index Standard Deviation, Seasonally Adjusted

Frequency:  Monthly

Notes:

This series represents the contributions of Michigan's consumer spending sector to the Relative Midwest Economy Index (RMEI). This series is the weighted average of state variables measuring the growth in nonfarm business activity based on consumer spending sector indicators for the Michigan.

A zero value represents an average contribution to RMEI by the state of Michigan consumer spending 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.

Suggested Citation:

Federal Reserve Bank of Chicago, Contributions to the Chicago Fed Relative Midwest Economy Index: Michigan Contribution: Consumer Spending Sector [RCONSUMIM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RCONSUMIM683SFRBCHI, March 3, 2024.

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