U.S. Economic Activity During the Early Weeks of the SARS-Cov-2 Outbreak
16 Pages Posted: 29 Apr 2020
Date Written: April, 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 most recent week ending April 4, the WEI indicates economic activity has fallen further to -8.89% scaled to 4-quarter growth in GDP.
Keywords: Weekly Economic Index, High Frequency, COVID-19, Measurement of Economic Activity
JEL Classification: E66, C51, E01
Suggested Citation: Suggested Citation