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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 Thursday at 10:30 a.m. CT, using data available up to 8 a.m. CT.

May 12, 2022: Update

  • The WEI is currently 4.19 percent, scaled to four-quarter GDP growth, for the week ended May 7 and 4.41 percent for April 30; for reference, the WEI stood at 1.37 percent for the week ended February 29, 2020.
  • The decline in the WEI for the week of May 7 (relative to the final estimate for the week of April 30) is due to decreases in retail sales, tax withholding and fuel sales, and an increase in initial unemployment insurance claims (relative to the same time last year), which more than offset rises in steel production, consumer confidence, railroad traffic (relative to the same time last year) and electricity output. The WEI for the week of April 30 was revised upward due to a fall in continuing unemployment insurance claims and a rise in the staffing index. As an alternative measure, the data for the week ended April 30 indicates a 0.03 percentage point increase in activity relative to February 2020.
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    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.

WEI Authors

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.

WEI