Contributions to the Chicago Fed Midwest Economy Index: Illinois Contribution: Consumer Spending Sector
CONSUILM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.08
Year-over-Year Change
-117.19%
Date Range
6/1/1976 - 5/1/2021
Summary
The Chicago Fed Midwest Economy Index for Illinois Consumer Spending Sector tracks regional economic performance through consumer expenditure trends. This metric provides critical insights into the economic health and consumer behavior of Illinois within the broader Midwestern economic landscape.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator measures the contributions of consumer spending to the overall economic performance of Illinois as part of the Midwest region. Economists use this index to understand regional economic dynamics, consumer confidence, and potential shifts in economic activity.
Methodology
The data is compiled by the Federal Reserve Bank of Chicago using comprehensive economic surveys, consumer spending data, and statistical modeling techniques.
Historical Context
Policymakers and financial analysts use this index to inform economic forecasting, regional development strategies, and monetary policy decisions.
Key Facts
- Tracks consumer spending contributions in Illinois
- Part of the Chicago Fed's regional economic analysis
- Provides insights into regional economic performance
FAQs
Q: What does this economic index measure?
A: The index measures the contribution of consumer spending to the economic performance of Illinois within the Midwest region.
Q: Why is this index important?
A: It helps economists and policymakers understand regional economic trends, consumer behavior, and potential economic shifts.
Q: How is the data collected?
A: The Federal Reserve Bank of Chicago uses economic surveys, spending data, and statistical modeling to compile the index.
Q: How can businesses use this information?
A: Businesses can use the index to understand consumer spending patterns and make informed strategic decisions about market opportunities.
Q: How often is this index updated?
A: The index is typically updated periodically, with frequency depending on data collection and analysis cycles.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Midwest Economy Index: Illinois Contribution: Consumer Spending Sector [CONSUILM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025