Source: Federal Reserve Bank of Chicago  

Release: Chicago Fed Midwest Economy Index  

Units:  Index Standard Deviation, Seasonally Adjusted

Frequency:  Monthly

This series represents the contributions of Michigan's consumer spending sector to the Relative Midwest Economy Index (RMEI). This series is the weighted average of state variables measuring the growth in nonfarm business activity based on consumer spending sector indicators for the Michigan.

A zero value represents an average contribution to RMEI by the state of Michigan consumer spending sector, a rate historically consistent with the growth of the national economy, whereas positive values indicate above-average relative contribution; and negative values indicate below average relative contribution.

For further information about the Relative Midwest Economy Index, go to http://midwest.chicagofedblogs.org/archives/2011/03/mei_by_scott_br.html and http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf.