Index Shows Midwest Economic Growth Improved in January
The Midwest Economy Index (MEI) increased to +0.04 in January from –0.10 in December, marking its first positive value since June 2012. The relative MEI, however, decreased to –0.24 in January from –0.18 in December, remaining negative for the second straight month. Estimates of annual growth in gross state product for the five Seventh District states were updated through the fourth quarter of 2012 in this release. The estimate for Indiana was higher than the national rate of growth, while the estimates for Wisconsin, Illinois, Iowa, and Michigan were lower.