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.
January 21, 2021: Update
- The WEI is currently -1.98 percent, scaled to four-quarter GDP growth, for the week ended January 16 and -1.67 percent for January 09; for reference, the WEI stood at 1.55 percent for the week ended February 29.
- The decline in the WEI for the week of January 16 (relative to the final estimate for the week of January 9) is due to an increase in initial unemployment insurance claims (relative to the same time last year) and a decrease in tax withholding, which more than offset rises in retail sales, steel production, and rail traffic. The WEI for the week of January 9 was revised upward due to an increase in the staffing index, which more than offset a rise in continuing unemployment insurance claims (relative to the same time last year).
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.