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 the services sector to the Midwest Economy Index (MEI). This series is a weighted average of state and regional indicators encompassing the entirety of the five states in the Seventh Federal Reserve District (Illinois, Iowa, Iowa, Michigan, and Wisconsin).

The series measures the growth in nonfarm business activity in the Midwest Region based on the services sector.

A zero value represents an average contribution to the MEI by the Services sector, whereas a positive value indicates that an above-average contribution to MEI; and negative values indicate below-average contribution to MEI.

For further information about the 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 .