Contributions to the Chicago Fed Relative Midwest Economy Index: Michigan Contribution
RMIINDEXM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.11
Year-over-Year Change
-109.97%
Date Range
6/1/1976 - 5/1/2021
Summary
The Chicago Fed Relative Midwest Economy Index for Michigan tracks the state's economic performance relative to regional benchmarks. This metric provides insights into Michigan's economic health and comparative standing within the Midwest economic landscape.
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 Michigan's economic contributions and performance against other Midwestern states using multiple economic indicators. Economists use it to understand regional economic dynamics, structural changes, and comparative economic strengths.
Methodology
The index is calculated by the Federal Reserve Bank of Chicago using a composite of economic variables including employment, production, income, and other key economic metrics.
Historical Context
Policymakers and investors use this index to assess regional economic trends, inform strategic decisions, and understand Michigan's economic positioning within the broader Midwestern economy.
Key Facts
- Provides comparative economic performance metrics for Michigan
- Developed by the Federal Reserve Bank of Chicago
- Incorporates multiple economic indicators in its calculation
FAQs
Q: What does this index measure?
A: The index measures Michigan's economic performance relative to other Midwestern states using a composite of economic indicators.
Q: How often is this index updated?
A: The index is typically updated monthly, providing current insights into Michigan's economic trends.
Q: Why is this index important?
A: It helps economists, policymakers, and investors understand Michigan's economic health and comparative regional performance.
Q: What economic factors are included in the index?
A: The index incorporates employment, production, income, and other key economic metrics to provide a comprehensive view.
Q: How can businesses use this index?
A: Businesses can use the index to assess economic conditions, make strategic decisions, and understand regional economic trends.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Relative Midwest Economy Index: Michigan Contribution [RMIINDEXM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025