Home Add to Favorite Contact Submit  
           14 November, 2019


    
Category:  Press » Automotive

 

Amid Fears of Double-Dip Recession, Ceridian-UCLA Pulse of Commerce Index(TM) Falls Sharply in June

Popularity:
         Views: 1179
2010-07-13 05:31:12     
Ceridian

The Ceridian-UCLA Pulse of Commerce Index™ (PCI) by UCLA Anderson School of Management tumbled 1.9 percent in June after its impressive 3.1 percent gain in May. Coming in the midst of other disappointing economic reports, the PCI's drop seemingly reinforces the fear that the economy is on the brink of a double-dip recession, but further analysis tells a different story, according to PCI Chief Economist Edward Leamer.

"While June's number is substantially down, erasing two-thirds of May's great gain, the daily and weekly activity on which the monthly PCI is based does not suggest that the economy is heading over a cliff," said Leamer. "Part of the apparent strength of May and weakness in June is the result of the Memorial Day holiday occurring on the last day of May, allowing the negative Memorial Day effect which is usually confined to May to leak into June. More importantly, the June weakness was confined to the first two weeks, and by the second half of June, we were seeing strong growth again."

The PCI data also indicates strong year-over-year and quarter-over-quarter growth, even though the month-to-month comparison is worrisome. The annualized number for June climbed 8.6 percent, the seventh consecutive month of positive year-over-year results.

"The PCI has not been showing the sustained negative numbers characteristic of a double-dip recession," Leamer said.

The PCI is based on an analysis of real-time diesel fuel consumption data from over the road trucking tracked by Ceridian, a global provider of electronic and stored value card payment services and human resources solutions. By analyzing payment card data for the location and volume of diesel fuel purchased by truck operators, the PCI provides a detailed picture of the movement of goods and materials across the United States.

The PCI closely tracks the Federal Reserve's monthly Industrial Production (IP) index and forecasts expected results for the IP, which is released later in the month. Due to the negative June PCI report, the PCI is projecting June IP growth of 0.25 percent.

On a quarterly scale, the PCI grew 6.2 percent during the second quarter 2010, down from previous periods. The weaker PCI number suggests a Q2 GDP growth rate of only 2.5 percent, which is a positive number but not significant enough to put the unemployed back to work.

"Since the last half of 2009, manufacturers had been actively replenishing inventories, which brought the quarterly PCI numbers up due to more trucking activity. Now that the heavy period of inventory build-up is over, we're seeing a corresponding drop in the quarterly number," said Craig Manson, senior vice president and index expert for Ceridian.

The Ceridian-UCLA Pulse of Commerce Index also provides data for the nine Census regions. The decline in June is widespread, with only the New England region (e.g. Maine and Vermont) experiencing an increase, improving 0.9 percent. Areas of the country seeing the most significant decreases included the East South Central region (e.g. Alabama and Tennessee) dropping 3.7 percent and the East North Central region (e.g. Ohio and Michigan) declining 3.1 percent.

The complete June report and additional commentary is available at www.ceridianindex.com or by contacting index@Ceridian.com. The site offers further detail such as index graphs and downloadable data, video commentary and sound bites, information on how the data is obtained, and the opportunity to receive updates on the latest information via e-mail and RSS feeds.

About Ceridian-UCLA Pulse of Commerce Index

The Ceridian-UCLA Pulse of Commerce Index™ is based on real-time diesel fuel consumption data for over the road trucking and serves as an indicator of the state and possible future direction of the U.S. economy. By tracking the volume and location of fuel being purchased, the index closely monitors the over the road movement of raw materials, goods-in-process and finished goods to U.S. factories, retailers and consumers. Working with economists at UCLA Anderson School of Management and Charles River Associates, Ceridian provides the index monthly and also offers companies access to more detailed fuel-use information. Ceridian is a global business services company providing electronic and stored value card payment services and human resources solutions. UCLA Anderson School of Management is perennially ranked among top-tier business schools in the world. Charles River Associates is a leading global consulting firm that offers economic, financial, and business management expertise to organizations around the world.

For additional information on the Ceridian-UCLA Pulse of Commerce Index, please visit www.ceridianindex.com.

Specialized in: Econmic Data - Us Economy - Econometrics - Economic Performance - Over-the-road
URL: http://www.ceridianindex.com/
Print press release      Bookmark this page
Related Press releases 
Redesigned 2019 Toyota RAV4 Arrives at Hansel Auto Group (Popularity: ): SANTA ROSA, Calif. - December 31, 2018 -- Area SUV shoppers can now test drive the new 2019 Toyota RAV4 at Hansel Auto Group. The sporty new model is fresh from a complete redesign for 2019 and features a variety of updates, including a new Dynamic Force 2.5-liter four-cylinder engine.Every detail of the 2019 RAV4 has been redesigned and the SUV features an upscale cabin with more standard entertainment and ...
Trucks Plus USA Announces 2015 Dodge JOURNEY SE SPORT UTILITY 4D (Popularity: ): Yakima, Washington ( press.abc-directory.com ) November 2, 2018 - Trucks Plus USA is the only Eastern Washington dealer with Nationally Certified Pre-Owned vehicles. It is the premier destination for powerful trucks in the Union Gap, WA area. They have everything from fully customized used trucks in Yakima WA to the SUVs, including this 2015 Dodge Journey.When asked about their service, the spokesperson replied "As one of the leading Yakima SUV ...
Altia and Cypress Deliver ISO 26262-Compliant HMI Graphics and Storage Solutions for Automotive Displays (Popularity: ): COLORADO SPRINGS, Colo. - November 02, 2018 -- Altia and Cypress Semiconductor Corp. have collaborated on a new automotive instrument cluster graphics solution that delivers functional safety. Altia and Cypress will demonstrate the instrument cluster at the 2018 Electronica trade show from Tuesday, November 13 to Friday, November 16 in Munich. The demo brings together key functional safety technologies from Altia and Cypress which provide a complete, ISO 26262-compliant development ...
Halifax Used Cars Agency Announces Cash Back Offers for Select Customers (Popularity: ): Dartmouth, NS ( abc-directory.com ) July 4, 2018 - Hayden Agencies is a one-stop shop for people looking for used cars in Halifax. They have been offering a wide range of vehicles, including SUVs, trucks, coupes, hatchbacks, sedans, and ATVs, for more than thirty years. The used car dealer has recently announced a slew of discounts, including cash back offers, referral credits, and discounts for select customers.Potential customers can now ...
Harley Davidson Roma Is Proud To Announce The Opening Of Our Site (Popularity: ): 09-02-2018 - press.abc-directory.com -- Harley Davidson is one of the most recognizable motorcycle brands in the world. It is a brand that is associated with speed, quality, precision, and fine appearance. Harley Davidson Roma and Harley Davidson Usato Garantito offer the people of these areas the latest models to hit the market.Harley Davidson is the first name in style and high performance when it comes to motorcycles. You may intend ...

Press release home snapshot 


Related Business 
Niagara Falls Canada - Niagara Falls Hotels - Niagra Falls - Niagara on the Lake (Popularity: ): Niagara Falls, Ontario, along with with its sister city Niagara Falls, New York, is the self-proclaimed Honeymoon Capital of the World. Information about Niagara Falls Canada, Niagara Falls Hotels, Niagra Falls, Niagara on the Lake, Niagara Falls Facts, Niagara Falls Weather, Nigara Falls Transportation, Niagara Falls Airport, Maid of the Mist, Get around at Niagara Falls Canada, Niagara Falls Map, Niagara Falls Attractions and much more.
Jim Thorpe Camping Resort (Popularity: ): A 28-acre campground with level, spacious and wooded sites. Camp amid the laurel bloom in May and June and enjoy the rhododendron blooms in July.
Virto Commerce (Popularity: ): Virto Commerce was founded by a team that previously developed Mediachase eCommerce Framework, successfully used by thousands of merchants around the world. Since 2011 our team of architects and engineers has been developing Virto Commerce to be a new generation of .NET ecommerce platforms, and in June 2013 Virto Commerce v1.0 has been released.
Cooper Medical Supplies Pulse Ox Store (Popularity: ): At Cooper Medical Supplies Pulse Ox Store, we are happy to bring a complete line of pulse oximeters. Our owners are both Respiratory Therapists and we understand the importance of pulse oximetry and the need for our customers to obtain this technology at reasonable prices.
Titan Pulse Sciences Division (Popularity: ): The Pulse Sciences Division (PSD) provides pulse power products and services to a wide variety of government and commercial institutions
UCLA Magazine (Popularity: ): Distributed quarterly to members of the UCLA Alumni Association, selected donors, and friends of the university.
Accutane Lawsuit Lawyers (Popularity: ): In June of 2009, international pharmaceutical giant Hoffman-LaRoche discontinued the manufacture and distribution of its premier acne medication, Accutane (also known as Isotretinoin). This happened amid reports that the drug is linked to a number of serious and incurable diseases, including Crohn's Disease and inflammatory bowel disease.
Blanco Valley Farms (Popularity: ): Offers chili mix, hot dip mixes, salsas, cowboy caviar dip, and candied jalapenos.
Portable Fingertip Pulse Oximeter (Popularity: ): The Quest Product’s Pulse Oximeters are useful, non-invasive medical devices that indirectly measure the oxygen saturation of a person’s blood (as opposed to measuring oxygen saturation directly through a blood sample). Shop fully featured Portable Pulse Oximeter with long battery life for home & hospital usage. Portable Pulse Oximeter is very simple to use & small.
Three Angels Gourmet Co. (Popularity: ): Baking mixes include bread, cookies, scones, pancakes, and brownies. Also, potato soup, dill dip, and tomato herb dip.