Contributions to the Chicago Fed Relative Midwest Economy Index: Manufacturing Contribution
RMANUFACTURINGM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.80
Year-over-Year Change
-68.42%
Date Range
6/1/1976 - 5/1/2021
Summary
Tracks the manufacturing sector's performance relative to the Midwest regional economy. Provides critical insights into industrial productivity and economic health.
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
The index measures manufacturing's contribution to the Midwest's economic landscape. It helps economists understand regional industrial dynamics and economic trends.
Methodology
Calculated by the Chicago Federal Reserve using comprehensive manufacturing data and economic indicators.
Historical Context
Used by policymakers to assess regional economic performance and industrial strategy.
Key Facts
- Tracks manufacturing sector performance
- Provides regional economic insights
- Critical for understanding industrial trends
FAQs
Q: What does this economic index measure?
A: It measures the manufacturing sector's contribution to the Midwest regional economy. Helps track industrial performance and economic health.
Q: Why is the manufacturing index important?
A: It provides insights into regional economic trends and industrial productivity. Helps policymakers and economists understand economic dynamics.
Q: How often is this index updated?
A: Typically updated monthly by the Chicago Federal Reserve. Provides current economic performance data.
Q: Can this index predict economic changes?
A: It serves as a leading indicator of regional economic performance. Helps forecast potential economic shifts.
Q: What regions does this index cover?
A: Specifically focuses on the Midwest region of the United States. Provides targeted economic insights.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Relative Midwest Economy Index: Manufacturing Contribution (RMANUFACTURINGM683SFRBCHI), retrieved from FRED.