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.
September 24, 2020: Update
- The WEI is currently -4.50 percent, scaled to four-quarter GDP growth, for the week ended September 19 and -5.91 percent for September 12; for reference, the WEI stood at 1.55 percent for the week ended February 29.
- The increase in the WEI for the week of September 19 was due to increases in fuel sales, rail traffic, and tax withholding, which more than offset an increase in initial unemployment insurance claims and a decrease in electricity output. The WEI for the week of September 12 was revised downward due to an increase in continuing unemployment insurance claims (relative to the same time last year) and differences in the way series are weighted from the second revision to the final estimate.
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.