Overview of Seventh District Economy
The Seventh Federal Reserve District is made up of five states, which includes all of Iowa, and most of Illinois, Indiana, Michigan and Wisconsin. The Seventh District comprises a considerable part of the nation’s manufacturing base — especially capital goods and consumer durables — as well as production agriculture and food processing.
- The Seventh District has more individual banks than any other Federal Reserve District.
- The Seventh District economy is 50 percent more concentrated in overall manufacturing than the nation. The District produces 30 percent of the nation’s light vehicles and also specializes in construction and farm machinery, medical equipment, and steel products.
- In a typical year, the Seventh District produces over 40 percent of the nation’s corn, soybeans, and hogs. The District is also a major dairy and egg producer.