Index Suggests Midwest Growth Decreased Substantially in March
The Midwest Economy Index (MEI) fell to –1.02 in March from –0.16 in February. Contributions to the March MEI from three of the four broad sectors of nonfarm business activity and all five Seventh Federal Reserve District states decreased from February. The relative MEI increased to +0.26 in March from +0.02 in February. Contributions to the March relative MEI from two of the four sectors and three of the five states increased from February.