Ceridian-UCLA Pulse of Commerce Index Falls 1% In August
Ceridian-UCLA Pulse of Commerce Index climbed 1.7% in July following a 1.9% drop in June.
“The August data is obviously discouraging after the cautious optimism created from July’s report,” said Ed Leamer, chief PCI economist. “There is not much to feel good about with the August data in terms of the unemployment picture, but there is a silver lining in that the August PCI is still far from double-dip territory.”
The index is designed to track diesel fuel consumption in real-time to serve as an industrial production proxy.
Chat 1. Ceridian-UCLA Pulse of Commerce Index
Source: www.ceridianindex.com