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 10, 2021: Update
- The WEI is currently 10.01 percent, scaled to four-quarter GDP growth, for the week ended June 5 and 11.24 percent for May 29; for reference, the WEI stood at 1.55 percent for the week ended February 29, 2020.
- The decline in the WEI for the week of June 5 reflects decreases in fuel sales, electricity output, and rail traffic, which more than offset an increase in tax withholdings and a fall in initial unemployment insurance claims. The WEI for the week of May 29 was revised upward due to a decrease in continuing unemployment insurance claims. Because the WEI measures changes over a 52-week period, the large positive readings for the weeks of June 5 and May 29 also reflect the sharp deterioration in economic conditions during the same time last year. As an alternative measure, the data from the week of May 29 indicates a +0.92 percent change in activity relative to February 2020.
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.