Chicago Fed Relative Midwest Economy Index
RMEIM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.79
Year-over-Year Change
-177.03%
Date Range
6/1/1976 - 5/1/2021
Summary
The Chicago Fed Relative Midwest Economy Index tracks the economic performance of the Midwestern United States relative to its own historical trends. It provides a comprehensive measure of regional economic activity across multiple sectors and indicators.
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 compares current Midwest economic conditions against the region's own historical baseline, offering insights into relative economic strength and potential growth trajectories. Economists use it to understand regional economic dynamics beyond national-level indicators.
Methodology
The index is calculated using a composite of multiple economic variables, weighted and normalized to create a standardized measure of regional economic performance.
Historical Context
Policymakers and investors use this index to assess regional economic health, inform investment strategies, and understand localized economic trends.
Key Facts
- Measures Midwest economic performance relative to historical trends
- Covers multiple economic sectors and indicators
- Provides granular insights into regional economic dynamics
FAQs
Q: What regions does the Midwest Economy Index cover?
A: The index typically covers states including Illinois, Indiana, Michigan, Wisconsin, and parts of Iowa and Missouri.
Q: How frequently is the index updated?
A: The Chicago Fed Relative Midwest Economy Index is usually updated monthly, providing near-real-time economic insights.
Q: What economic indicators are included in the index?
A: The index incorporates data from manufacturing, employment, income, consumer spending, and other key economic sectors.
Q: How do businesses use this index?
A: Companies use the index to assess regional economic conditions, inform expansion strategies, and understand market potential.
Q: What are the limitations of this economic indicator?
A: The index provides a relative measure and should be used alongside other economic indicators for comprehensive analysis.
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Citation
U.S. Federal Reserve, Chicago Fed Relative Midwest Economy Index [RMEIM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025