{"id":34398,"date":"2020-07-25T00:17:40","date_gmt":"2020-07-25T00:17:40","guid":{"rendered":"https:\/\/www.vailvalleypartnership.com\/?p=34398"},"modified":"2020-07-25T00:17:40","modified_gmt":"2020-07-25T00:17:40","slug":"data-show-economy-is-tied-to-virus-levels","status":"publish","type":"post","link":"https:\/\/www.vailvalleypartnership.com\/2020\/07\/data-show-economy-is-tied-to-virus-levels\/","title":{"rendered":"Data Show Economy is Tied to Virus Levels"},"content":{"rendered":"<table id=\"DevelopmentsThatMatter\" role=\"presentation\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"center\" aria-hidden=\"true\">\n<tbody>\n<tr>\n<td width=\"600\"><center><\/p>\n<h3 class=\"color-blue\"><\/h3>\n<p><\/center><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td class=\"spacer-v-5\" colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td width=\"600\">\n<div id=\"DevelopmentsThatMatterDesc\" class=\"mktoText blue-links p-margins\">\n<p>Real-time economic data is in great demand. Everyone wants to know what is happening in the economy <em>right now<\/em>. For this purpose, we have been following the <a href=\"https:\/\/url.emailprotection.link\/?bgAO9amVjVLbpPyvwQvloGqH-RoTyAzRf-DRXWsAQA_ySFNfkI9usNZSVz1ogsmT8g5SDjNLU2NDu88VmUOtcIYuBirVOzf8P9fuaTxpM1urXapN4BvHQMZCfM3o4HyFM\">Weekly Economic Index<\/a>(WEI). The index was created by researchers at Harvard, the New York Fed, and the Dallas Fed. It compiles 10 data sources to compute a measure of real-time economic activity.<\/p>\n<p>Those data points are: same-store sales, consumer confidence, new unemployment claims, continued unemployment claims, income tax withholdings, railroad traffic, staffing levels, steel production, fuel sales, and electricity usage. The index calculates a weekly reading that reflects the levels of each of these data points.<\/p>\n<p>We know the economy surged in May and June as virus levels dropped. We also know that surge is ebbing as virus levels rise. The WEI reflects this pattern.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/page.uschamber.com\/rs\/462-UWH-935\/images\/WeeklyEconomicIndex.jpg\" alt=\"\" width=\"600\" height=\"480\" border=\"\" \/><\/p>\n<p>It bottomed out in late April and had been rising steadily ever since, until a drop last week, largely because of the increase in unemployment claims. Fuel sales and electricity production also decreased. Those declines offset increases in railroad traffic and tax withholdings.<\/p>\n<p>To give context to where the WEI stands now, it is still significantly below its lowest reading during the 2007-2009 Great Recession. However, that recession lasted longer than the current one. Even though the economy is a long way from being recovered, it is likely growing now, meaning the recession is likely technically over.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/page.uschamber.com\/rs\/462-UWH-935\/images\/WeeklyEconomicIndex_Crisis.jpg\" alt=\"\" width=\"600\" height=\"480\" border=\"\" \/><\/p>\n<p>\u2013Curtis Dubay, Senior Economist, U.S. Chamber of Commerce<\/p>\n<\/div>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td class=\"spacer-v-15\" colspan=\"3\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Real-time economic data is in great demand. Everyone wants to know what is happening in the economy right now. For&#8230;<br \/><a class=\"read-more\" href=\"https:\/\/www.vailvalleypartnership.com\/2020\/07\/data-show-economy-is-tied-to-virus-levels\/\">Read More<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-34398","post","type-post","status-publish","format-standard","hentry","category-community-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Data Show Economy is Tied to Virus Levels | Vail Valley Partnership<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vailvalleypartnership.com\/2020\/07\/data-show-economy-is-tied-to-virus-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Data Show Economy is Tied to Virus Levels | Vail Valley Partnership\" \/>\n<meta property=\"og:description\" content=\"Real-time economic data is in great demand. 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