Index Points to Slower Midwest Economic Growth in May
The Midwest Economy Index (MEI) decreased to +0.51 in May from +0.72 in April. Three of the four broad sectors of nonfarm business activity and four of the five Seventh Federal Reserve District states made positive contributions to the MEI in May. The relative MEI moved down to +0.09 in May from +0.65 in April. Three of the four sectors and three of the five states made positive contributions to the relative MEI in May.