Under the background of global climate change, accurate monitoring and comprehensive assessment of droughts are of great practical significance to sustain agricultural development. Considering multiple causes and the complexity of the occurrence of drought, this paper employs multiple input variables, i.e., precipitation, temperature, evaporation, and surface water content to construct a modified composite drought index (MCDI) using a series of mathematical calculation methods. The derived MCDI was calculated as a multivariate drought index to measure the drought conditions and verify its accuracy in Hubei Province in China. Compared with the existing multivariate drought index, i.e., meteorological drought composite index (CI), there was a high level of correlation in monitoring drought events in Hubei Province. Moreover, according to the drought historical record, the significant drought processes monitored by the MCDI were consistent with actual drought conditions. Furthermore, temporal and spatial analysis of drought in Hubei Province was performed based on the monitoring results of the MCDI. This paper generalizes the development of the MCDI as a new method for comprehensive assessments of regional drought.
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