Index Shows Midwest Growth Picked Up Slightly in October
The Midwest Economy Index (MEI) increased to –0.33 in October from –0.37 in September, improving for the first time since April of this year. The relative MEI increased to –0.29 in October from –0.36 in September, marking its first improvement since May of this year. Estimates of annual growth in gross state product (GSP) as described in the December 2011 Chicago Fed Letter (No. 293) are included in this month’s release. Updated forecasts through 2011:Q3 will be made available in next month’s release.