LIBERTY STREET ECONOMICS
Tracking the COVID-19 Economy with the Weekly Economic Index (WEI)
Daniel Lewis, Karel Mertens, and James Stock
At the end of March, the authors launched the WEI as a tool to monitor changes in real activity during the pandemic. So far in 2020, the WEI has synthesized daily and weekly data to measure GDP growth remarkably well. This post documents this performance and offers some guidance on evaluating the WEI’s forecasting abilities based on 2020 data and interpreting WEI updates and revisions.
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