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NY Fed Weekly Economic Index (WEI)

NY Fed notes the "decline in the WEI for the week of October 9 (relative to the final estimate for the week of October 2) is due to decreases in retail sales, steel production, tax withholding, and rail traffic, which more than offset increases in electricity output and consumer confidence (relative to the same time last year) and a fall in initial unemployment insurance claims (relative to the same time last year).
  • Because the WEI measures changes over a 52-week period, the large positive reading also reflects the sharp deterioration in economic conditions during the same time last year."

  • NY Federal Reserve/MNI

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