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.
June 4, 2020: Update
- The WEI is currently -10.08 percent, scaled to four-quarter GDP growth, for the week ended May 30 and -9.36 percent for May 23; for reference, the WEI stood at 1.58 percent for the week ended February 29.
- Today’s increase in the WEI for the week of May 30 was led by the continued fall in initial unemployment insurance (UI) claims, supported by increases in rail traffic and electricity output relative to the same time last year. These factors more than offset lower fuel sales and a small decrease in payroll withholdings. The WEI for the week of May 23 was revised upward as the continuing UI claims release, while an increase over the prior week, was less negative than other 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.com.
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.