This would be similar to the one the President receives daily from his top intelligence officials on national security, the White House Press Secretary, Robert Gibbs, told reporters yesterday.  The briefing would be led by the National Economic Council Director, Larry Summers.

"It's something that we're calling an economic daily briefing that he'll receive most likely in the Oval Office each and every day. It will be treated and prepared with the same sort of renowned professionalism that the daily intelligence briefing is done with," he said.

"The president asked that this (economic briefing) be added each day to his schedule, as the country is in the midst of an economic crisis and an economic emergency."

Obama felt it was important that each day he receive the most up-to-date information as it relates to the economy, as his administration puts together an economic reinvestment and recovery plan, as well as future financial stability packages, to ensure that American economy gets moving again, Gibbs said.

On the domestic front, Obama is giving the current economic crisis his topmost priority. He has proposed a mega economic stimulus package aimed at recovery of the American economy and creating more than three million jobs in the country.

Gibbs said the daily economic briefing will be put together each night and the President will receive a memo. It will be updated in the morning.

On Thursday, the briefing was attended by the President, the Vice President, the White House Chief of Staff, OMB Director Peter Orszag, and Summers besides, Domestic Policy Director Melody Barnes, and Jared Bernstein, the Vice President's Chief Economic Adviser.

"They walked through the day's economic news, the myriad of statistics that came out today on jobless claims and housing," he said.