Source: Federal Reserve Bank of Chicago
Release: Chicago Fed Midwest Economy Index
Units:
Frequency:
This series represents the contributions of Midwest Region's services 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 services sector indicators for the Midwest.
A zero value represents an average contribution to RMEI by the Midwest Region's 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.
Federal Reserve Bank of Chicago, Contributions to the Chicago Fed Relative Midwest Economy Index: Midwest Region Contribution: Services Sector [RSERVRM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RSERVRM683SFRBCHI, January 25, 2021.
