Tuesday, March 31, 2020

High Frequency Economic Data

As mentioned in previous posts, we know that the economy is taking one of its biggest hits in history, but the data are not available yet (it takes time to collect and process data).  The report for new claims for unemployment will be in the millions again this week (report for last week will be released on Thursday); also, there's uncertainty about how much of the job losses will show up in Friday's report on the March job market due to the timing of the collection of the data).  The ISM indexes for manufacturing & services come out later this week and will show early changes in behavior of purchasing managers.  Is there data that could come out more frequently? 

Here's a pdf from yadreni.com that contains a large amount of data, some of which is high frequency: https://www.yardeni.com/pub/highfreqcb_bb.pdf

Seeking Alpha shares a recent analysis of high-frequency data (click here).

Visa reported a 4% decline in consumer spending for the month of March (compared to a year ago).  You may recall that things were not that bad in early March; the situation deteriorated rapidly in mid-March (so if data  were available for just the second half, it would show a considerably larger decline in consumer spending).

Add it up and it would be helpful to have more high frequency data to gauge what's going on.  We'll keep searching...