The Weekly Economic Index (WEI) is an index of ten daily and weekly indicators of real economic activity, scaled to align with the four-quarter GDP growth rate.
FromTo
Notes: The shaded areas indicate periods designated as recessions by the National Bureau of Economic Research. Annual real GDP growth (four-quarter moving average) is based on the latest quarterly GDP data release from the U.S. Bureau of Economic Analysis. The 13-week moving average of the WEI offers an approximation of the four-quarter annual real GDP growth rate for a hypothetical quarter ending in a given week.
The WEI represents the common component of ten daily and weekly series covering consumer behavior, the labor market, and production, including:
Commentary
The decline in the WEI for the week of January 16 comes in spite of an increase in consumer confidence, and is a result of most data releases (including those that have recently provided positive signals) being delayed due to the MLK Day holiday.