Contributions to the Chicago Fed Relative Midwest Economy Index: Michigan Contribution: Manufacturing Sector
RMANUMIM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.02
Year-over-Year Change
-77.54%
Date Range
6/1/1976 - 5/1/2021
Summary
Measures Michigan's manufacturing sector performance relative to the Midwest regional economy. Provides critical insights into regional 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 tracks manufacturing contributions from Michigan, highlighting sectoral performance and regional economic dynamics. It helps economists understand localized industrial trends.
Methodology
Calculated by the Chicago Federal Reserve using comprehensive manufacturing sector data.
Historical Context
Used by policymakers to assess regional economic development and industrial strategy.
Key Facts
- Tracks manufacturing sector contributions in Michigan
- Part of Chicago Fed's regional economic analysis
- Provides granular economic performance insights
FAQs
Q: What does this economic index measure?
A: It measures Michigan's manufacturing sector performance relative to the broader Midwest regional economy.
Q: Why is the Midwest Manufacturing Index important?
A: It provides critical insights into regional industrial productivity and economic health.
Q: How often is this index updated?
A: The Chicago Fed typically updates regional economic indices quarterly.
Q: Can this index predict economic trends?
A: It serves as a leading indicator of regional manufacturing performance and economic potential.
Q: What makes Michigan's manufacturing unique?
A: Michigan has a historically strong automotive and manufacturing base influencing its economic contributions.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Relative Midwest Economy Index: Michigan Contribution: Manufacturing Sector (RMANUMIM683SFRBCHI), retrieved from FRED.