Index Shows Midwest Growth Strengthened in January
The Midwest Economy Index (MEI) increased to +0.36 in January from +0.20 in December, reaching its highest level since May 2011. Midwest growth continued to outperform its historical deviation with respect to national growth, but the relative MEI decreased to +0.31 in January from +0.45 in December.
Estimates of annual growth in gross state product for the five Seventh District states have been updated through the fourth quarter of 2011, and are contained in this release. For more information, please see the accompanying blog entry here.