News Item
12.30.2015
Index Shows Midwest Economic Growth Below Average in November
Today, the Federal Reserve Bank of Chicago released November 2015 figures for its Midwest Economy Index (MEI). The MEI is a weighted average of 129 indicators designed to measure non-farm business activity in the Midwest (IL, IN, MI, WI, IA).
The overall MEI moved down to -0.17 in November from -0.14 in October. The relative MEI increased to +0.13 in November from -0.32 in October. A negative MEI and a positive relative MEI index value indicate that the Midwest economy grew at a slower rate in November than would typically be suggested by its historic growth rate and at a rate faster than the growth rate of the national economy, respectively.
Michigan and Indiana made positive overall contributions to the MEI, led by Michigan’s +0.05 manufacturing contribution and Indiana’s +0.02 consumer services contribution. Negative manufacturing contributions from Illinois (-0.04), Wisconsin (-0.08), and Iowa (-0.11) had the greatest impact on the overall MEI’s negative value. All states made positive consumer spending contributions.
The following chart illustrates contributions to the MEI by sector for Illinois and the Midwest as a whole.
The following chart illustrates five-year trend lines for the MEI and Relative MEI indexes. The MEI captures both national and regional factors driving Midwest growth and the relative MEI provides a picture of Midwest growth conditions relative to those of the nation.
Source: Federal Reserve Bank of Chicago
Please refer to the Chicago Federal Reserve Bank press release for more information.
Chaired by Mayor Rahm Emanuel, World Business Chicago is the public-private partnership leading the Plan for Economic Growth and Jobs in order to drive business development, cultivate talent, and put Chicago at the forefront of the global economy.
WBC’s “Economic Briefs” track indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including unemployment, population, venture capital, job openings and new hires, home sales, tourism, etc. This data provides a clear analytic framework for specific Plan strategies and initiatives. For a summary of these and other economic indicators, refer to WBC’s monthly Chicago By The Numbers.
Related News
News Item
03.24.2023
A Chat about Alicia Ponce’s Work
Tell us a bit about the industry you are in and the work you focus on. Architecture is an industry where we get to define a city’s culture and history. …

Blog
NEWS
News Item
03.20.2023
Getting to Know DCASE Commissioner Erin Harkey
Tell us about where you grew up and tell a special high school memory/story. I was born and raised in Los Angeles and went to Santa Monica High School; high…

Blog
NEWS
News Item
02.28.2023
Black History Spotlight - Blake Anthony-Johnson
A Conversation with Blake-Anthony Johnson, CEO and President of Chicago Sinfonietta Blake-Anthony Johnson’s multifaceted career has included work as a performer, collaborator, recording artist, and

Blog
NEWS
News Item
02.28.2023
Black History Spotlight - Leon Walker
Meet Leon Walker Over the past 20 years, Leon I. Walker, Esq., has spearheaded cutting-edge community development projects that have generated thousands of new jobs and brought grocery stores and&hell