Download This PaperU.S. Economic Activity During the Early Weeks of the Sars-Cov-2 Outbreak
16 Pages Posted: 13 Apr 2020 Last revised: 24 Feb 2023
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Measuring Real Activity Using a Weekly Economic Index
FRB of New York Staff Report No. 920, April 2020
Number of pages: 25
Posted: 14 Apr 2020
Last Revised: 14 Sep 2020
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Date Written: April 2020
Abstract
This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the response to the novel Coronavirus in the United States. The WEI shows a strong and sudden decline in economic activity starting in the week ending March 21, 2020. In the most recent week ending March 28, the WEI indicates economic activity has fallen further to -6.19% scaled to 4 quarter growth in GDP.
Suggested Citation: Suggested Citation
Lewis, Daniel J. and Mertens, Karel and Mertens, Karel and Stock, James H., U.S. Economic Activity During the Early Weeks of the Sars-Cov-2 Outbreak (April 2020). NBER Working Paper No. w26954, Available at SSRN: https://ssrn.com/abstract=3574419
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