Midwest economic index shows sluggish 2019 for region
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.