What does DEAI mean in
The Detroit Economic Activity Index (DEAI) is a composite index that measures the economic activity in the Detroit metropolitan statistical area (MSA). The MSA includes the city of Detroit and the surrounding Wayne, Oakland, and Macomb counties. The DEAI is published by the Federal Reserve Bank of Chicago and is based on a variety of economic indicators, including employment, unemployment, income, and consumer spending.
DEAI meaning in in Governmental
DEAI mostly used in an acronym in Category Governmental that means Detroit Economic Activity Index
Shorthand: DEAI,
Full Form: Detroit Economic Activity Index
For more information of "Detroit Economic Activity Index", see the section below.
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Purpose of DEAI
The purpose of the DEAI is to provide a timely and accurate measure of the economic health of the Detroit MSA. The index is used by businesses, policymakers, and researchers to track economic trends in the region. The DEAI can also be used to compare the economic performance of Detroit to other metropolitan areas.
Components of DEAI
The DEAI is composed of six equally weighted components:
- Nonfarm payroll employment
- Unemployment rate
- Average weekly manufacturing hours
- Personal income
- Consumer spending
- Housing permits
Calculation of DEAI
The DEAI is calculated by taking the average of the six component indexes. The component indexes are calculated by comparing the current value of the indicator to its value in the base year (2010). The base year is set to 100, so an index value of 105 indicates that the indicator has increased by 5% since the base year.
Essential Questions and Answers on Detroit Economic Activity Index in "GOVERNMENTAL»ECONOMY"
What is the Detroit Economic Activity Index (DEAI)?
The DEAI is a monthly composite index that measures the economic activity in the Detroit metropolitan statistical area (MSA). It is a leading indicator of economic growth in the region and is used by businesses, policymakers, and economists to track the local economy.
Who produces the DEAI?
The DEAI is produced by the Federal Reserve Bank of Chicago. The index is based on data from a variety of sources, including employment, income, and consumer spending.
How is the DEAI calculated?
The DEAI is calculated using a weighted average of 12 economic indicators. The weights are determined by the importance of each indicator in reflecting the overall health of the local economy.
What does the DEAI measure?
The DEAI measures a broad range of economic activity in the Detroit MSA, including employment, income, consumer spending, and business investment.
How is the DEAI used?
The DEAI is used by businesses, policymakers, and economists to track the local economy and make informed decisions. It can be used to identify trends, forecast economic growth, and assess the effectiveness of economic policies.
Why is the DEAI important?
The DEAI is important because it provides timely and accurate information about the economic health of the Detroit MSA. It is a valuable tool for businesses, policymakers, and economists who need to make informed decisions about the local economy.
Final Words: The DEAI is a valuable tool for tracking the economic health of the Detroit MSA. The index provides a timely and accurate measure of economic activity in the region and can be used to compare the economic performance of Detroit to other metropolitan areas.