Source: Federal Reserve Bank of Chicago
Release: Chicago Fed Midwest Economy Index
This series represents the contributions of the manufacturing sector to the Relative Midwest Economy Index (RMEI). his 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 Midwest Region.
A zero value represents an average contribution to RMEI by the Midwest Region, 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: Manufacturing Contribution [RMANUFACTURINGM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RMANUFACTURINGM683SFRBCHI, February 25, 2021.