The Lewis-Mertens-Stock/NY Fed measure for data through 5/24 is down to 1.88%, down from 2.79% on the week of Trump’s inauguration, down from peak of 3.07%, recording data before “Liberation Day”.
Figure 1: Weekly Economic Index (blue), and Baumeister, Leiva-Leon, Sims Weekly Economic Conditions Index plus 2% (tan), both annualized %. Source: NY Fed via FRED, Baumeister et al.
Hence, there’s been a noticeable deceleration in growth as measured by the WEI, not so much the Baumeister et al. index.
