Contributions to the Chicago Fed Relative Midwest Economy Index: Illinois Contribution: Services Sector
RSERVILM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.04
Year-over-Year Change
-107.70%
Date Range
6/1/1976 - 5/1/2021
Summary
The Chicago Fed Relative Midwest Economy Index: Illinois Contribution: Services Sector tracks the performance of Illinois' services sector relative to regional economic benchmarks. This metric provides critical insights into the state's economic health and service industry dynamics.
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 economic indicator measures the relative contribution of Illinois' services sector to the broader Midwest regional economy. Economists use this data to assess sectoral performance, regional economic trends, and potential structural changes in service industries.
Methodology
The index is calculated by the Federal Reserve Bank of Chicago using comprehensive economic data, comparing Illinois' services sector performance against regional economic standards.
Historical Context
Policymakers and investors use this index to evaluate economic conditions, make strategic decisions, and understand regional economic competitiveness.
Key Facts
- Focuses specifically on Illinois' services sector performance
- Part of the Chicago Fed's comprehensive regional economic analysis
- Provides comparative insights into service industry contributions
FAQs
Q: What does this economic indicator measure?
A: It measures the relative contribution of Illinois' services sector to the Midwest regional economy, tracking performance and economic dynamics.
Q: Why is this index important?
A: The index helps economists, policymakers, and investors understand regional economic trends and the specific performance of Illinois' service industries.
Q: How is the index calculated?
A: The Chicago Fed calculates the index using comprehensive economic data, comparing Illinois' services sector against regional economic benchmarks.
Q: Who uses this economic indicator?
A: Economists, policymakers, investors, and researchers use this index to assess regional economic conditions and make strategic decisions.
Q: How often is this data updated?
A: The frequency of updates varies, but typically such indicators are refreshed quarterly or annually to reflect current economic conditions.
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Chicago Fed Midwest Economy Index
MEIM683SFRBCHI
Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Relative Midwest Economy Index: Illinois Contribution: Services Sector [RSERVILM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025