News Item
01.31.2017
Index Shows Midwest Economic Growth Increased in December
- The MEI captures both national and regional factors driving Midwest growth
- The relative MEI provides a picture of Midwest growth conditions relative to those of the nation.
The MEI increased to +0.06 in December, from -0.02 in November. December’s positive MEI value indicates that the Midwest economy grew slightly faster than would typically be suggested by its historic growth rate.
The relative MEI decreased to +0.12 in December from +0.19 in November. The positive value, however, indicates that the Midwest economy grew at a rate faster than the growth rate of the national economy.
By state, Michigan and Indiana made positive overall contributions to the MEI, while Illinois, Iowa and Wisconsin made negative contributions. By sector, overall contributions were positive in manufacturing (+0.05) and consumer spending (+0.03), negative in construction (-0.02), and neutral in services (0.0).
The following chart illustrates five-year trend lines for the MEI and Relative MEI indexes.
Source: Federal Reserve Bank of Chicago
Please refer to the Chicago Federal Reserve Bank press release for more information.
World Business Chicago is a public-private, non-profit partnership and drives inclusive economic growth and job creation, supports business, and promotes Chicago as a leading global city.
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. World Business Chicago is a public-private, non-profit partnership and drives inclusive economic growth and job creation, supports business, and promotes Chicago as a leading global city.
Related News
NEWS
News Item
10.13.2022
Chicago Mayor Lori E. Lightfoot & World Business Chicago Announce the Inaugural Chicago Venture Summit Future-of-Food
More than 600 founders, Fortune 500 leaders, and investors are attending Chicago’s flagship food innovation conference hosted by World Business Chicago. CHICAGO, May 26, 2022 – Chicago Mayor Lori
News Item
04.11.2022
World Business Chicago at SeedCon 2022
The Rattan L. Khosa SeedCon is Chicago Booth’s flagship entrepreneurship and venture capital conference. As the world seemed to stand still amidst the COVID-19 pandemic, investors, entrepreneurs, an
News Item
04.11.2022
World Business Chicago Partners with Global Fintech Leader tastytrade for ThinkChicago Fintech Summit
“Innovation is the many years of study and analysis, which then finds itself in the path of an emerging opportunity” -Linwood Ma, tastytrade CTO World Business Chicago was proud to…
News Item
03.30.2022
CBO Collective Announces $1 Million Grant from Google.org to Provide Job Placement and Support to Jobseekers from Under-Resourced Chicago Communities
CHICAGO — The Community Based Organization Collective today announced a $1 million grant from Google.org to help place hundreds of jobseekers on Chicago’s South and West sides into in-demand caree