Features

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Developing Small Businesses and Leveraging Resources in Detroit

ProfitWise News and Views summarizes October 2012 small business symposium that addressed access to small business credit and financing in Detroit.  The discussion focused on opportunities and challenges, implications for small business borrowing, and strategies for leveraging capital and other resources. Read More

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Regional Home Ownership Preservation Initiative Focus on Affordable Rental Housing

In a blog posting, the Chicago Fed’s Community Development and Policy Studies division highlights presentations from a January 30, 2013, conference that outlined next steps in managing the foreclosure crisis. Read More

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Income Growth Expectations During the Great Recession

Economic Perspectives article finds expectations have yet to recover to pre-recession levels and are a strong predictor of actual future income and consumption growth. Read More

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New Issue of Risk Perspectives Available

Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends.  Recent issue of Risk Perspectives highlights risk monitoring in the Midwest. Read More

Recent News

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Midwest Farmland Values Still Rising

Latest AgLetter reports farmland values in the first quarter of 2013 were 15 percent higher than a year ago. Read More

Update on Financial Conditions

Both the NFCI and ANFCI continued to indicate looser-than-average financial conditions in the week ending May 3. Read More

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Estimating the Trend Rate of Economic Growth

Chicago Fed Letter discusses a new way to identify cyclical and trend components of real GDP growth with the CFNAI. Read More

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The Growing Importance of Mexico in North America’s Auto Production

Chicago Fed Letter explores the recent rapid expansion of Mexico’s auto production and exports. Read More

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What Do U.S. Life Insurers Invest In?

Chicago Fed Letter examines life insurers’ invested assets and the potential impact of a large negative shock to asset values. Read More

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Are Local Property Tax Breaks for Businesses and Nonprofits Broken?

Chicago Fed Letter explores the role of property tax incentives in supporting business growth, as well as the tax treatment of nonprofits’ properties. Read More

Around the System

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Consumer Needing Help with a Problem?

Visit the Federal Reserve Consumer Help website to file a complaint against your bank, resources to challenge a foreclosure and get tips about finances for small businesses.

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FOMC: March Minutes Now Online

The latest Federal Open Market Committee meeting was held March 19-20, 2013. Following this meeting, detailed projection reports were released and the Chairman held a press conference and minutes released.

Economic Snapshot

Chicago Fed National Activity Index (CFNAI)


National Financial Conditions Index (NFCI)


Midwest Economy Index (MEI)


Chicago Fed Midwest Manufacturing Index (CFMMI)


Latest Indicators — March*  
Unemployment Employment
Growth
GSP     
Growth**
Monthly YoY      YoY
US:
IL:
IN:
IA:
MI:
WI:
7.6%
9.5%
8.7%
4.9%
8.5%
7.1%
0.1%
-0.3%
-0.4%
-0.4%
-0.2%
-0.3%
1.4%
0.6%
1.0%
0.7%
0.8%
0.5%
2.2%
1.7%
2.3%
1.7%
1.2%
2.1%

*All data are seasonally adjusted.
**Year-to-date estimates of annual growth in real gross state product (GSP) are through 2012:Q4.
Source: Bureau of Economic Analysis and Bureau of Labor Statistics/Haver Analytics
More about the Midwest Economy

CFNAI
March
Monthly Index:  -0.23
3-month MA:  -0.01
Diffusion Index:  -0.02

NFCI
May 10, 2013
NFCI:  -0.82
Adjusted NFCI (ANFCI):  -0.43

Midwest Economy Index (MEI)
March
MEI:  +0.27
Relative MEI:  +0.01

CFMMI

+0.3% in March

Farmland Values

+15% in 1Q13 over 1Q12

'Beige Book'

Economic activity in the Seventh District continued to expand at a slow pace in late January and February.

Michigan Retail Index

-0.5 for sales outlook
+1.0 for sales performance