Measuring Real Activity Using a Weekly Economic Index

This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the onset of and policy response to the novel coronavirus in the United States. The WEI is a weekly composite index of real economic activity, with eight of ten series available the Thursday after the end of the reference week. In addition to being a weekly real activity index, the WEI has strong predictive power for output measures and provided an accurate nowcast of current-quarter GDP growth in the first half of 2020. We document how the WEI responded to key events and data releases during the first six months of the pandemic

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Year of publication:	2020
Authors:	Lewis, Daniel J.
Other Persons:	Mertens, Karel (contributor) ; Stock, James H. (contributor) ; Trivedi, Mihir (contributor)
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Index \| Index number \| Wirtschaftsindikator \| Economic indicator \| Messung \| Measurement

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