The Midwest Economy Index (MEI), which approximates quarterly growth at a monthly frequency, fell to –9.91 in May from –6.00 in April. Contributions to the May MEI from all four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states decreased from April. The relative MEI increased to –0.46 in May from –2.37 in April. Contributions to the May relative MEI from two of the four sectors and four of the five states increased from April.
Midwest Economy Index, May 2020
Index Suggests Midwest Growth Well Below Trend Through May