Index Shows Midwest Economic Growth Moderated in May
The Midwest Economy Index (MEI) decreased to +0.51 in May from +0.76 in April, but indicated that Midwest economic growth was above its historical trend for the seventh consecutive month. Midwest growth also continued to outperform its historical deviation with respect to national growth, although the relative MEI decreased to +0.57 in May from +0.71 in April. Estimates of annual growth in gross state product for the five Seventh District states were generally at or slightly above the national rate of growth through the first quarter of 2012.
