Contributions to the Chicago Fed Midwest Economy Index: Michigan Contribution: Consumer Spending Sector
CONSUMIM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.02
Year-over-Year Change
-103.25%
Date Range
6/1/1976 - 5/1/2021
Summary
Tracks Michigan's consumer spending sector performance within the Midwest regional economic landscape. Provides critical insights into regional economic health and consumer behavior.
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 index measures Michigan's contribution to consumer spending in the Midwest economic region. It helps economists understand localized economic trends and consumer economic activity.
Methodology
Calculated by the Chicago Federal Reserve using comprehensive economic data collection methods.
Historical Context
Used by policymakers and economists to assess regional economic performance and consumer trends.
Key Facts
- Tracks consumer spending sector performance
- Focuses on Michigan's economic contribution
- Part of Chicago Fed's regional economic analysis
FAQs
Q: What does this economic index measure?
A: It tracks Michigan's consumer spending contribution to the Midwest regional economy. Provides insights into local economic performance.
Q: Why is the Michigan consumer spending index important?
A: It helps economists and policymakers understand regional economic trends and consumer behavior patterns.
Q: How often is this index updated?
A: Typically updated periodically by the Chicago Federal Reserve to reflect current economic conditions.
Q: Can this index predict economic changes?
A: It serves as a leading indicator of regional economic health and consumer economic activity.
Q: What makes this index unique?
A: Focuses specifically on Michigan's economic contribution to the broader Midwest region.
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Citation
U.S. Federal Reserve, Michigan Contribution: Consumer Spending Sector (CONSUMIM683SFRBCHI), retrieved from FRED.