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Measuring Detroit’s Economic Progress with the DEAI

Author

Listed:
  • Scott A. Brave
  • Ross Cole
  • Paul Traub

Abstract

This article explains what the Detroit Economic Activity Index (DEAI) tells us about Detroit’s economic progress as of late 2019. Although the rate of progress had slowed some since 2016, the city continued to make headway last year in its recovery from bankruptcy. In a previous Chicago Fed Letter,1 we introduced the DEAI to show that Detroit was doing better in late 2016 than in late 2014, when it exited bankruptcy. According to the DEAI, there were signs of increasing private investment, higher employment, lower unemployment, rising incomes, and improving real estate values in December 2016. In this article, we discuss the DEAI’s performance through the end of 2019, which suggested that Detroit’s economy was still improving, although at a slower rate than before.

Suggested Citation

  • Scott A. Brave & Ross Cole & Paul Traub, 2020. "Measuring Detroit’s Economic Progress with the DEAI," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue 434.
    • Handle: RePEc:fip:fedhle:87994
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    Keywords

    Unemployment; Detroit Economic Activity Index (DEAI);

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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