Ceridian-UCLA Pulse of Commerce Index Rose 0.4% In November
The Ceridian-UCLA Pulse of Commerce Index rose 0.4% in November after falling 0.6% in October.
While the PCI’s most recent data shows growth, it is not substantial enough to offset the loss from the third quarter,” explained Ed Leamer, chief PCI economist and director of the UCLA Anderson Forecast. “In short, November’s “up” is relative to a low-bar so the growth is only mildly encouraging. The flatness we’re seeing with the latest PCI data reflects inventories in motion which seem to be signaling a weak fourth quarter.
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
