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Contributions to the Chicago Fed Relative Midwest Economy Index: Services Contribution (RSERVICESM683SFRBCHI)

Observation:

Jul 2020: -2.00265  
Updated: Aug 31, 2020

Units:

Index Standard Deviation,
Seasonally Adjusted

Frequency:

Monthly
1Y | 5Y | 10Y | Max

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 the services sector to the Midwest 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 services sector.

A zero value represents an average contribution to RMEI by the Midwest services 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: Services Contribution [RSERVICESM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RSERVICESM683SFRBCHI, September 27, 2020.

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