Contributions to the Chicago Fed Relative Midwest Economy Index: Consumer Spending Contribution
RCONSUMERM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.12
Year-over-Year Change
-111.14%
Date Range
6/1/1976 - 5/1/2021
Summary
The Chicago Fed Relative Midwest Economy Index: Consumer Spending Contribution tracks the impact of consumer expenditures on the Midwestern regional economic performance. This metric provides crucial insights into regional economic dynamics by measuring consumer spending's relative contribution to overall economic activity.
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 represents the normalized consumer spending component within the broader Relative Midwest Economy Index, offering economists a granular view of regional consumption patterns. Economists use this metric to understand consumer behavior, economic resilience, and potential leading indicators of regional economic trends.
Methodology
The data is calculated by the Federal Reserve Bank of Chicago using statistical modeling that normalizes consumer spending contributions relative to historical economic performance.
Historical Context
Policymakers and regional economic planners utilize this index to assess consumer economic health and potential targeted interventions in the Midwestern economic landscape.
Key Facts
- Measures normalized consumer spending impact in Midwestern regional economy
- Provides comparative insights into consumer economic contributions
- Part of a comprehensive regional economic assessment framework
FAQs
Q: What does this index specifically measure?
A: The index measures the relative contribution of consumer spending to the Midwestern regional economic performance, normalized against historical economic trends.
Q: How frequently is this data updated?
A: Typically, this economic indicator is updated on a monthly or quarterly basis, depending on data collection and Federal Reserve reporting cycles.
Q: Why is regional consumer spending important?
A: Regional consumer spending is a critical economic indicator that reflects local economic health, consumer confidence, and potential future economic activity.
Q: How can businesses use this information?
A: Businesses can leverage this index to understand regional consumer behavior, potential market opportunities, and economic investment strategies.
Q: What are the limitations of this economic indicator?
A: The index provides a normalized view and should be considered alongside other economic metrics for comprehensive analysis, as it represents a specific regional perspective.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Relative Midwest Economy Index: Consumer Spending Contribution [RCONSUMERM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025