Contributions to the Chicago Fed Midwest Economy Index: Services Contribution
SERVICESM683SFRBCHI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-102.42%
Date Range
6/1/1976 - 5/1/2021
Summary
The Contributions to the Chicago Fed Midwest Economy Index: Services Contribution tracks the performance of service sector activities in the Midwestern United States. This metric provides critical insights into regional 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 service-related economic activities to the overall Midwest regional economic performance. Economists use this trend to understand sectoral shifts, service industry productivity, and regional economic transformation.
Methodology
The data is calculated by the Federal Reserve Bank of Chicago using comprehensive economic surveys, statistical sampling, and economic modeling techniques.
Historical Context
Policymakers and investors use this index to assess regional economic trends, inform investment strategies, and develop targeted economic development initiatives.
Key Facts
- Focuses specifically on service sector contributions in the Midwest region
- Provides granular insights into regional economic performance
- Part of a broader economic monitoring framework by the Chicago Federal Reserve
FAQs
Q: What regions are included in the Midwest Economic Index?
A: The index typically covers states like Illinois, Indiana, Michigan, Wisconsin, and parts of Iowa and Missouri.
Q: How frequently is this data updated?
A: The Chicago Fed Midwest Economy Index is usually updated monthly, providing near-real-time economic insights.
Q: What types of services are included in this metric?
A: The index encompasses various service sectors including finance, healthcare, professional services, hospitality, and retail.
Q: How do economic researchers use this data?
A: Researchers analyze this trend to understand regional economic shifts, service sector performance, and potential leading indicators of broader economic changes.
Q: What are the limitations of this economic indicator?
A: The index is region-specific and may not fully represent national economic trends, requiring complementary data sources for comprehensive analysis.
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Citation
U.S. Federal Reserve, Contributions to the Chicago Fed Midwest Economy Index: Services Contribution [SERVICESM683SFRBCHI], retrieved from FRED.
Last Checked: 8/1/2025