Index Shows Midwest Economic Growth Weakened in August
The Midwest Economy Index (MEI) decreased to –0.38 in August from –0.11 in July, reaching its lowest value since December 2009. The relative MEI declined from +0.05 in July to –0.30 in August — its lowest value since August 2011. Estimates of annual growth in gross state product for the five Seventh District states were updated through the second quarter of 2012 in this release. Estimates for Illinois, Iowa, and Michigan were slightly below the national rate of growth, while those for Indiana and Wisconsin were higher.