Economic activity indexes are indexes which attempt to provide an overall look at the state of the economy.
The Business Formation Statistics provide timely and high frequency information on new business applications and formations in the United States.
Major Business Formation Statistics Indicators
| Indicator | Period | Value | % CHG PREV |
| US Business Applications | Jan 2026 | 532319.0 | 7.17% |
| US Business Applications from Corporations | Jan 2026 | 44245.00 | 6.58% |
| US Business Applications with Planned Wages | Jan 2026 | 39191.00 | 6.60% |
| US High-Propensity Business Applications | Jan 2026 | 147516.0 | 8.04% |
| US Projected Business Formations within Eight Quarters | Jan 2026 | 40886.00 | 6.55% |
| US Projected Business Formations within Four Quarters | Jan 2026 | 29863.00 | 4.47% |
| US Spliced Business Formations within Eight Quarters | Jan 2026 | 40886.00 | 6.55% |
| US Spliced Business Formations within Four Quarters | Jan 2026 | 29863.00 | 4.47% |
The balance of international payments covers all economic transactions between Canadian residents and non-residents in three accounts: the current account, the capital account and the financial account.
Major Canada Balance of International Payments Indicators
| Indicator | Period | Value | % CHG PREV |
| Canada Balance of Taxes | Q4 2025 | 3.758B CAD | -2.74% |
| Canada Balance on Commercial Services | Q4 2025 | 2.538B CAD | -0.20% |
| Canada Balance on Compensation of Employees | Q4 2025 | -3.522B CAD | -- |
| Canada Balance on Goods | Q4 2025 | -4.542B CAD | -- |
| Canada Balance on Goods and Services | Q4 2025 | -3.118B CAD | -- |
| Canada Balance on Government Services | Q4 2025 | -74.00M CAD | -- |
| Canada Balance on Investment Income | Q4 2025 | 6.829B CAD | -16.20% |
| Canada Balance on Primary Income | Q4 2025 | 3.307B CAD | -23.63% |
| Canada Balance on Services | Q4 2025 | 1.425B CAD | -28.50% |
| Canada Balance on Transportation | Q4 2025 | -3.755B CAD | -- |
| Canada Balance on Travel | Q4 2025 | 2.715B CAD | -17.90% |
| Canada Current Account Balance | Q4 2025 | -706.00M CAD | -- |
The Chicago Fed National Activity Index is a monthly index designed to gauge overall economic activity and related inflationary pressure.
Major Chicago Fed National Activity Report Indicators
| Indicator | Period | Value | % CHG PREV |
| Chicago Fed National Activity Index | Jan 2026 | 0.18 | -- |
| Chicago Fed National Activity Index (3 Month Moving Average) | Jan 2026 | -0.06 | -- |
| Chicago Fed National Activity Index: Employment, Unemployment and Hours | Jan 2026 | 0.01 | -- |
| Chicago Fed National Activity Index: Personal Consumption and Housing | Jan 2026 | 0.00 | -- |
| Chicago Fed National Activity Index: Production and Income | Jan 2026 | 0.19 | -- |
| Chicago Fed National Activity Index: Sales, Orders, Inventories | Jan 2026 | -0.02 | -- |
The Chicago Fed Survey of Economic Conditions (CFSEC) is a survey of organizations located in the Seventh Federal Reserve District. The goal of the survey is to assess the state of the economy in the Seventh Federal Reserve District, which is served by the Chicago Fed. The Chicago Fed produces diffusion indexes based on the quantitative questions in the survey.
Major Chicago Fed Survey of Economic Conditions Indicators
| Indicator | Period | Value | % CHG PREV |
| Chicago Fed Survey of Economic Conditions Activity Index | Feb 2026 | 16.67 | 17.22% |
| Chicago Fed Survey of Economic Conditions Capital Spending Expectations Index | Feb 2026 | -19.47 | -- |
| Chicago Fed Survey of Economic Conditions Current Hiring Index | Feb 2026 | -35.21 | -- |
| Chicago Fed Survey of Economic Conditions Hiring Expectations Index | Feb 2026 | -14.57 | -- |
| Chicago Fed Survey of Economic Conditions Manufacturing Activity Index | Feb 2026 | 18.18 | -24.68% |
| Chicago Fed Survey of Economic Conditions Nonmanufacturing Activity Index | Feb 2026 | 12.99 | 78.93% |
| Chicago Fed Survey of Economic Conditions Outlook for US Economy Index | Feb 2026 | 17.07 | 6.50% |
The Index of Business Conditions are summary measures for aggregate economic activity. They are designed to be a useful tool for analyzing current conditions, and for forecasting future economic conditions.
Major ESRI Index of Business Conditions Indicators
| Indicator | Period | Value | % CHG PREV |
| Japan Business Conditions Coincident Diffusion Index | Dec 2025 | 22.20 | -71.47% |
| Japan Business Conditions Composite Coincident Index | Dec 2025 | 114.30 | -0.52% |
| Japan Business Conditions Composite Lagging Index | Dec 2025 | 110.30 | -1.96% |
| Japan Business Conditions Composite Leading Index | Dec 2025 | 111.00 | 1.00% |
| Japan Business Conditions Cumulated Coincident Diffusion Index | Dec 2025 | 22.20 | -71.47% |
| Japan Business Conditions Cumulated Lagging Diffusion Index | Dec 2025 | 12.50 | -83.33% |
| Japan Business Conditions Cumulated Leading Diffusion Index | Dec 2025 | 80.00 | 0.00% |
| Japan Business Conditions Lagging Diffusion Index | Dec 2025 | 12.50 | -83.33% |
| Japan Business Conditions Leading Diffusion Index | Dec 2025 | 80.00 | 0.00% |
The European Economic Sentiment Indicator is a part of the business and consumer surveys conducted by the Directorate General for Economic and Financial Affairs for different sectors of the economies in the European Union and in the applicant countries.
Major European Economic Sentiment Indicator Indicators
| Indicator | Period | Value | % CHG PREV |
| Belgium Economic Sentiment Indicator | Feb 2026 | 92.10 | -0.54% |
| Czech Republic Economic Sentiment Indicator | Feb 2026 | 99.90 | -1.58% |
| Eurozone Consumer Confidence Indicator | Feb 2026 | -12.20 | -- |
| Eurozone Economic Sentiment Indicator | Feb 2026 | 98.30 | -1.01% |
| Eurozone Industry Confidence Indicator | Feb 2026 | -7.10 | -- |
| France Economic Sentiment Indicator | Feb 2026 | 97.80 | -2.78% |
| Germany Economic Sentiment Indicator | Feb 2026 | 93.00 | -0.21% |
| Greece Economic Sentiment Indicator | Feb 2026 | 107.70 | 2.18% |
| Italy Economic Sentiment Indicator | Feb 2026 | 102.00 | -0.58% |
| Netherlands Economic Sentiment Indicator | Feb 2026 | 102.30 | -0.20% |
| Poland Economic Sentiment Indicator | Feb 2026 | 101.30 | -1.84% |
| Portugal Economic Sentiment Indicator | Feb 2026 | 104.30 | 0.87% |
| Spain Economic Sentiment Indicator | Feb 2026 | 106.20 | 0.00% |
The OECD system of composite leading indicators was developed in the 1970’s to give early signals of turning points of economic activity. This information is of prime importance for economists, businesses and policy makers to enable timely analysis of the current and short-term economic situation.
Major OECD Composite Leading Indicators Indicators
| Indicator | Period | Value | % CHG PREV |
| Composite Leading Indicator: Canada | Jan 2026 | 101.87 | 0.28% |
| Composite Leading Indicator: China | Jan 2026 | 98.80 | -0.03% |
| Composite Leading Indicator: France | Jan 2026 | 101.53 | 0.24% |
| Composite Leading Indicator: G20 | Jan 2026 | 100.60 | 0.13% |
| Composite Leading Indicator: Germany | Jan 2026 | 101.40 | 0.14% |
| Composite Leading Indicator: Italy | Jan 2026 | 101.74 | 0.24% |
| Composite Leading Indicator: Japan | Jan 2026 | 100.50 | 0.09% |
| Composite Leading Indicator: Spain | Jan 2026 | 101.92 | 0.40% |
| Composite Leading Indicator: United Kingdom | Jan 2026 | 101.07 | 0.03% |
| Composite Leading Indicator: United States | Jan 2026 | 100.55 | 0.14% |
The Office of Economic Analysis provides objective forecasts of the state's economy, revenue, population, corrections population, and Youth Authority population. These forecasts are used by the Governor, the Legislature, state agencies, and the public to achieve their goals.
Major Oregon Economic Forecast Indicators
The Federal Reserve Bank of Philadelphia produces a monthly coincident index for each of the 50 states. The Bank issues a release each month describing recent trends in the state indexes, with special coverage of the three states in the Third District: Pennsylvania, New Jersey, and Delaware.
Major Philly Fed Coincident Index Indicators
| Indicator | Period | Value | % CHG PREV |
| Philly Fed Delaware Coincident Index | Dec 2025 | 139.40 | -0.83% |
| Philly Fed New Jersey Coincident Index | Dec 2025 | 142.82 | 0.15% |
| Philly Fed Pennsylvania Coincident Index | Dec 2025 | 136.09 | 0.13% |
| Philly Fed US Coincident Index | Dec 2025 | 148.73 | 0.22% |
The Nonmanufacturing Business Outlook Survey (NBOS) is a monthly survey of nonmanufacturers in the Third Federal Reserve District. Participants indicate the direction of change in overall business activity and in the various measures of activity at their firms, including new orders, sales or revenues, employment, prices, and capital expenditures. Respondents also provide their assessments of general business conditions over the next six months.
Major Philly Fed Nonmanufacturing Business Outlook Survey Indicators
| Indicator | Period | Value | % CHG PREV |
| Philly Fed Nonmanufacturing Company Activity Index | Jan 2026 | 16.20 | 1.92K% |
| Philly Fed Nonmanufacturing Future Company Activity Index | Jan 2026 | 33.70 | 452.5% |
| Philly Fed Nonmanufacturing Future Region Activity Index | Jan 2026 | 10.30 | -- |
| Philly Fed Nonmanufacturing New Orders Index | Jan 2026 | 5.50 | 2.65K% |
| Philly Fed Nonmanufacturing Number of Full-time Employees Index | Jan 2026 | 9.70 | 29.33% |
| Philly Fed Nonmanufacturing Number of Part-time or Temporary Employees Index | Jan 2026 | -0.40 | -- |
| Philly Fed Nonmanufacturing Prices Paid Index | Jan 2026 | 34.50 | -6.50% |
| Philly Fed Nonmanufacturing Prices Received Index | Jan 2026 | 13.20 | -18.52% |
| Philly Fed Nonmanufacturing Region Activity Index | Jan 2026 | -4.20 | -- |
| Philly Fed Nonmanufacturing Sales Index | Jan 2026 | 24.80 | 105.0% |
Major Sahm Rule Recession Indicator Indicators
| Indicator | Period | Value | % CHG PREV |
| Real-time Sahm Rule Recession Indicator | Dec 2025 | 0.35% | -18.60% |
| Sahm Rule Recession Indicator | Dec 2025 | 0.35% | 0.00% |
NFIB Research Center has collected Small Business Economic Trends Data with Quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB).
Major Small Business Optimism Index Indicators
| Indicator | Period | Value | % CHG PREV |
| Small Business Optimism Index | Jan 2026 | 99.30 | -0.20% |
| Small Business Outlook: Business Conditions | Jan 2026 | 21.00% | -12.50% |
| Small Business Outlook: Expansion | Jan 2026 | 15.00% | 15.38% |
| Small Business Uncertainty Index | Jan 2026 | 91.00 | 8.33% |
The Survey of Professional Forecasters is the oldest quarterly survey of macroeconomic forecasts in the United States. The survey began in 1968 and was conducted by the American Statistical Association and the National Bureau of Economic Research. The Federal Reserve Bank of Philadelphia took over the survey in 1990.
Major Survey of Professional Forecasters Indicators
| Indicator | Period | Value | % CHG PREV |
| Median Forecasts for CPI Inflation Rate | Q4 2026 | 2.60% | 0.00% |
| Median Forecasts for Housing Starts | Q4 2026 | 2.97% | -64.37% |
| Median Forecasts for Industrial Production Index | Q4 2026 | 1.06% | -24.82% |
| Median Forecasts for Nonfarm Payroll Employment Growth Rate | Q4 2026 | 0.61% | 31.30% |
| Median Forecasts for PCE Inflation Rate | Q4 2026 | 2.40% | -2.72% |
| Median Forecasts for Real GDP | Q3 2026 | 1.58% | 17.89% |
| Median Forecasts for Real Personal Consumption Expenditures | Q4 2026 | 1.70% | -3.89% |
The Texas Business-Cycle Index is published monthly and calculated using payroll employment, gross state product, and the unemployment rate.
Major Texas Business-Cycle Indexes Indicators
| Indicator | Period | Value | % CHG PREV |
| Austin-Round Rock, TX Business-Cycle Index | Dec 2025 | 1276.91 | 0.38% |
| Brownsville-Harlingen, TX Business-Cycle Index | Dec 2025 | 314.99 | 0.06% |
| Dallas-Plano-Irving, TX Business-Cycle Index | Dec 2025 | 585.43 | 0.29% |
| El Paso, TX Business-Cycle Index | Dec 2025 | 360.57 | 0.22% |
| Fort Worth-Arlington, TX Business-Cycle Index | Dec 2025 | 535.26 | 0.30% |
| Houston-Sugar Land, TX Business-Cycle Index | Dec 2025 | 382.16 | 0.13% |
| Laredo, TX Business-Cycle Index | Dec 2025 | 485.85 | 0.33% |
| McAllen-Edinburg-Mission, TX Business-Cycle Index | Dec 2025 | 377.73 | 0.37% |
| San Antonio-New Braunfels, TX Business-Cycle Index | Dec 2025 | 490.06 | 0.33% |
| Texas Business-Cycle Index | Dec 2025 | 390.43 | 0.12% |
The Texas Leading Index provides information on the future of Texas's economy. It is comprised of eight leading indicators which tend to change direction before the overall economy. These indicators include the Texas value of the dollar, the US leading index, real oil price, well permits, initial claims for unemployment insurance, the Texas stock index, help-wanted index, and the average weekly hours worked in manufacturing.
Major Texas Leading Index Indicators
| Indicator | Period | Value | % CHG PREV |
| Texas Leading Index | Dec 2025 | 125.67 | 0.03% |
| Texas Leading Index Annual Average | 2025 | 125.73 | -1.01% |
| Texas Leading Index Annual Average YoY | 2025 | -1.01% | -- |
| Texas Leading Index Change from Previous Year | 2025 | 0.32% Chg Yr | -- |
US Recession Probabilities (Chauvet and Piger) are the smoothed probabilities of a recession in the US. They are calculated from a dynamic-factor Markov-switching model on non-farm payroll employment, industrial production index, real personal income, and real manufacturing and trade sales.
Major US Recession Probabilities - Chauvet and Piger Indicators
| Indicator | Period | Value | % CHG PREV |
| US Recession Probability | Dec 2025 | 0.80% | 29.03% |
US Recession Probabilities (Estrella and Mishkin) is predicted twelve months ahead through a model which uses the difference between 10-year and 3-month Treasury rates.
Major US Recession Probabilities - Estrella and Mishkin Indicators
| Indicator | Period | Value | % CHG PREV |
| US Recession Probability | Jan 2027 | 18.78% | -7.78% |
The Weekly Economic Index (WEI) provides a signal of the state of the U.S. economy based on data available at a daily or weekly frequency. It represents the common component of ten different daily and weekly series covering consumer behavior, the labor market, and production.
Major Weekly Economic Index (WEI) Indicators
| Indicator | Period | Value | % CHG PREV |
| US Weekly Economic Index | Feb 21 2026 | 2.65 | -8.30% |
The World Economic Outlook from the IMF contains data concerning the debt, lending and borrowing of major nations around the world.
Major World Economic Outlook Indicators
The ZEW Indicator of Economic Sentiment is calculated from the results of the ZEW Financial Market Survey. It is constructed as the difference between the percentage share of analysts that are optimistic and the share of analysts that are pessimistic for the German economy in six months.
Major ZEW Indicator of Economic Sentiment Indicators
| Indicator | Period | Value | % CHG PREV |
| ZEW Indicator of Economic Sentiment for Germany | Feb 2026 | 58.30 | -2.18% |
Upcoming Reports
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Mar 5 2026, 11:30 EST |
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