Fed: Midwest economic growth better than expected
The Midwest economy, led by continued strength in the manufacturing sector, grew at a rate that was slightly higher than expected in December, The Federal Reserve reported on Friday. The Midwest Economy Index increased to +0.67 in December from +0.43 in November. However, the relative index fell to +0.21 in December from +0.70 in November. December’s value for the relative MEI indicates that Midwest economic growth was somewhat higher than would typically be suggested by the growth rate of the national economy.
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