Tuesday, April 12, 2011
The Ceridian-UCLA Pulse of Commerce Index, "based on real-time diesel fuel consumption data for over the road trucking," jumped significantly in March, erasing what was looking like a very soft patch or even the beginnings of a downturn since mid-2010. The softness earlier this year probably reflected the awful weather back East. This index is consistent with moderate growth of about 3%, which is what most people seem to be expecting these days. I'm seeing more growth downgrades than upgrades, but I remain optimistic that the economy is going to be picking up strength as the year progresses. There is no reason for concern here.
Posted by Scott Grannis at 1:38 PM