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The Midwest Economy Index (MEI) is a monthly index designed to measure growth in nonfarm business activity in the Seventh Federal Reserve District. It serves as a regional counterpart to the Chicago Fed National Activity Index (CFNAI). The MEI is released at 8:30 a.m. ET on scheduled days, normally toward the end of each calendar month.
A zero value for the MEI indicates that the Midwest economy is expanding at its historical trend rate of growth; positive values indicate above-average growth; and negative values indicate below-average growth. A zero value for the relative MEI indicates that the Midwest economy is growing at a rate historically consistent with the growth of the national economy; positive values indicate above-average relative growth; and negative values indicate below-average relative growth.