Continued Recovery in June?

Menzie Chinn
By Menzie Chinn of Econbrowser
Professor of Public Affairs and Economics at the University of Wisconsin •

The New York Fed’s Weekly Economic Index suggests yes.

The New York Fed’s Weekly Economic Index suggests yes.

Applying the June WEI (12 month) growth rate to the IHS/Markit (formerly Macroeconomic Advisers) monthly GDP series, one obtains the following picture:

Despite this, output will be lower in Q2. The implied Q2 q/q growth rate is -36.2% (SAAR).

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