Weekly Economic Index
The Weekly Economic Index (WEI) provides a signal of the state of the U.S. economy based on data available at a daily or weekly frequency. It represents the common component of 10 different daily and weekly series covering consumer behavior, the labor market and production. It is updated Tuesday and Thursday at 10:30 a.m. CT, using data available up to 8 a.m. CT.
August 11, 2020: Update
- The WEI is currently -6.37 percent, scaled to four-quarter GDP growth, for the week ended August 08 and -5.60 percent for August 01; for reference, the WEI stood at 1.55 percent for the week ended February 29.
- Today’s decline in the WEI for the week of August 8 (relative to the second revision for the week of August 1) comes in spite of increases in retail sales, steel production, and consumer confidence (relative to the same time last year) and is largely due to data series that typically provide more positive signals not yet being available. The upward revision of the WEI for the week of August 1 is due to an increase in the staffing index, which provided a more positive signal than previously available data.
NOTES: When federal holidays occur on a publishing date or change the release schedule for the underlying data, the report is delayed by 24 hours. Data are updated at Federal Reserve Bank of New York, Federal Reserve Bank of Dallas and jimstock.org.
The WEI was developed by Daniel J. Lewis, an economist at the Federal Reserve Bank of New York; Karel Mertens, senior economic policy advisor at the Federal Reserve Bank of Dallas; and James H. Stock, professor of economics at Harvard University.