The Midwest economy index improved to negative 0.15 in November from negative 0.30 in October, according to the Federal Reserve Bank of Chicago, the second straight increase, but the fourth consecutive month below its historical trend.
The relative MEI posted a positive 0.04 reading in November, up from a negative 0.32 reading in October.
A zero value for the MEI indicates that the Midwest economy is expanding at its historical trend rate of growth; negative values are associated with below-trend growth while positive values indicate above-trend 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.
