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Economy

Midwest economic index shows sluggish 2019 for region

Ford Rouge Factory Tour in Dearborn
Nicole Yeary
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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.
 

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