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.
NOTE: As of the June 16 update, the alternative measure has been discontinued.
August 4, 2022: Update
- The WEI is currently 2.95 percent, scaled to four-quarter GDP growth, for the week ended July 30 and 3.30 percent for July 23; for reference, the WEI stood at 1.37 percent for the week ended February 29, 2020.
- The decrease in the WEI for the week of July 30 (relative to the final estimate for the week of July 23) is due to falls in steel production, consumer confidence (relative to the same time last year), electricity output, and fuel sales, and a rise in initial unemployment insurance claims (both relative to the same time last year), which more than offset increases in retail sales, railroad traffic, and tax withholding. The WEI for the week of July 23 was revised upward despite a decrease in the staffing index and a rise in continuing unemployment insurance claims (both relative to the same time last year), as those readings still 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.