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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Economic Development in Times of Fiscal Uncertainty

Chicago Fed Letter examines impact of state and local tax adjustments, as well as fiscal policy uncertainties, on economic development. Read More

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Estimating the Trend in Employment Growth

Chicago Fed Letter estimates trend employment growth to decline for remainder of the decade. Read More

Chicago Fed Symposium Economic Outlook for 2013-2014

Solid and improving economic growth expected, according to Chicago Fed Automotive Outlook Symposium participants. Read More

High Frequency Trading Recommendations

Chicago Fed paper summarizes research on high frequency trading strategies and makes recommendations for changes. Read More

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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

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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

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: May Minutes Now Online

The latest Federal Open Market Committee meeting was held April 30-May 1, 2013. Minutes are now available.

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 — April*  
Unemployment Employment
Growth
GSP     
Growth**
Monthly YoY      YoY
US:
IL:
IN:
IA:
MI:
WI:
7.5%
9.3%
8.5%
4.7%
8.4%
7.1%
0.1%
0.0%
0.2%
0.0%
-0.1%
-0.9%
1.6%
0.7%
1.2%
0.8%
0.8%
-0.2%
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
April
Monthly Index:  -0.53
3-month MA:  -0.04
Diffusion Index:  -0.03

NFCI
June 14, 2013
NFCI:  -0.75
Adjusted NFCI (ANFCI):  -0.44

Midwest Economy Index (MEI)
April
MEI:  +0.03
Relative MEI:  -0.21

CFMMI

-0.5% in April

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

+1.3 for sales outlook
+6.2 for sales performance