The Weekly Activity Index (WAI), designed to measure real economic activity in Germany in a timely manner, has recently been updated, showcasing positive developments in the country’s economic landscape.
For the week of June 26 to July 2, the WAI recorded a value of 0.7, indicating a stronger increase compared to the previous week’s value of 0.5. The index suggests that trend-adjusted economic activity, as measured by the WAI, was 0.7% higher over the past thirteen weeks until July 2, compared to the preceding thirteen weeks.
In terms of the implied GDP growth rate based on the WAI, the last thirteen weeks until July 2 saw a growth rate of 1.6% when compared to the previous thirteen weeks.
This encouraging data signals positive economic growth for Germany, bolstering hopes for a continued recovery. The next update on the Weekly Activity Index is scheduled for July 10, 2023.
It is important to note that the WAI is still under development and subject to continuous review and possible adjustments (see Methodology). This index is not an official forecast from the Deutsche Bundesbank or the Eurosystem.
Citation: Eraslan, S. and T. Götz (2020), An unconventional weekly economic activity index for Germany, Technical Paper of the Deutsche Bundesbank, 02/2020. Data available at www.bundesbank.de/wai.