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Midwest economic index shows sluggish 2019 for region

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One index of the Midwest economy is showing its lowest reading in a decade.

The Midwest Economy Index tracks 129 indicators in five states: Michigan, Indiana, Illinois, Iowa and Wisconsin. It’s released by the Chicago office of the Federal Reserve each month.

The reading for November was at -0.48, the lowest it’s been since 2009.

The manufacturing sector had the biggest decline.

The index showed a slowing Midwest economy for most of the year.

Despite that, Michigan continued to add jobs in 2019. And some economists are forecasting an improvement in 2020.
 

Dustin Dwyer reports enterprise and long-form stories from Michigan Radio’s West Michigan bureau. He was a fellow in the class of 2018 at the Nieman Foundation for Journalism at Harvard. He’s been with Michigan Radio since 2004, when he started as an intern in the newsroom.
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