Jul 8, 2020 - Economy
New York Fed index shows decline in recent economic data
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The New York Fed's collection of real-time data indicators contributing to U.S. GDP growth showed a decline, reaching -7.35% for the week ended July 4, down from -6.81%.
What it means: The WEI is an index of ten daily and weekly indicators of real economic activity, scaled to align with the four-quarter GDP growth rate, according to the New York Fed. It follows a string of real-time data analysis from investment banks and asset managers that shows economic data stalling or declining since mid-June.
