Weekly and daily readings prior to 8/13:
figure 1: Lewis-Mertens-Stock Weekly Economic Index (blue, left scale), OECD Weekly Tracker (tan, left scale), Baumeister-Leiva-Leon-Sims US Weekly Economic Conditions Index plus 2% trend (green, left icon), a major component of the first Google Mobility Trends (chartreuse, right scale).Source: NY Fed via Fred, OECD, Wisio, Google and the authors’ calculations.
Needless to say, most of these indicators point to continued growth through mid-August (the OECD WeeklyTracker shows a sharper slowdown from May to July). The first major component of Google Mobile Trends points to a plateau starting in May. The various Google Mobile Trends indices are shown in Figure 2.
figure 2: Google’s Mobile Trends Index for retail and entertainment (blue) grocery and pharmacy (tan), residential (purple), transit (red), parks (green), and workplace (dark gray), all with deviations from baseline. expressed as a percentage. resource: Google.
return, Initial jobless claims fall.
