Contributions to the Chicago Fed Relative Midwest Economy Index: Illinois Contribution
RILINDEXM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.44
Year-over-Year Change
-22.71%
Date Range
6/1/1976 - 5/1/2021
Summary
The Chicago Fed Relative Midwest Economy Index for Illinois tracks the state's economic performance relative to regional trends. This metric provides insights into Illinois' economic health and comparative standing within the Midwest economic ecosystem.
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 Illinois' economic contributions and performance against broader Midwestern economic benchmarks. Economists use it to understand structural economic shifts, regional competitiveness, and localized economic dynamics.
Methodology
The index is calculated using a composite of economic indicators that assess production, employment, income, and other key economic variables specific to Illinois.
Historical Context
Policymakers and investors use this index to evaluate economic strategies, investment potential, and regional economic development initiatives.
Key Facts
- Provides a comparative measure of Illinois' economic performance
- Tracks multiple economic indicators simultaneously
- Offers insights into regional economic variations
FAQs
Q: What does the RILINDEXM683SFRBCHI index measure?
A: The index measures Illinois' economic performance relative to other Midwestern states, using a comprehensive set of economic indicators.
Q: How often is this index updated?
A: The Chicago Fed typically updates this index monthly, providing current insights into the state's economic conditions.
Q: Why is this index important for economists?
A: It helps economists understand regional economic disparities, track economic trends, and assess state-level economic health.
Q: Can businesses use this index for decision-making?
A: Yes, businesses can use this index to evaluate economic opportunities, investment potential, and regional economic strategies.
Q: What are the limitations of this economic index?
A: The index provides a snapshot of economic performance and may not capture all nuanced economic factors or future economic shifts.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Relative Midwest Economy Index: Illinois Contribution [RILINDEXM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025