U.S. Economic Activity during the Early Weeks of the SARS-Cov-2 Outbreak
16 Pages Posted: 14 Apr 2020
Date Written: April 1, 2020
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 week ending April 4, the WEI indicates economic activity has fallen further to -8.89 percent, scaled to four-quarter growth in GDP.
Keywords: weekly economic index, high frequency, measurement of economic activity
JEL Classification: C51, E01, E66
Suggested Citation: Suggested Citation