Keep truckin – like the doodah man
Together – more or less in line
Just keep truckin on
— Grateful Dead, Truckin’
There are many indices to use to gauge economic activity and Coventry League tends to gravitate to proprietary and idiosyncratic ones.
However, we incorporate established indices as well, including a trucking activity index as a leading indicator: Ceridian-UCLA Pulse of Commerce Index, or PCI.
Essentially, a unit of Ceridian manages payment cards that trucking companies and drivers use to, say, fill up their tanks with diesel. It measures diesel fuel purchases at 7,000 truck stops nationwide. The big picture of the index is a measure of the flow of goods to U.S. factories, retailers and consumers.
So, what’s the index suggesting? Near-term economic sluggishness at best.
Coventry League may or may not have its chips cashed in…
“Biographies: Ceridian-UCLA Pulse of Commerce Index.” Economic Data | Ceridian-UCLA Pulse of Commerce Index. Web. 15 Sept. 2011. <www.ceridian.com/about-us/news-room/news-releases/2011-pr/pulse-of-commerce-index-remains-in-idle-down-14-percent-in-august.html>. Biography of UCLA economics professor, Ed Leamer, who is chief economist for the Ceridian-UCLA Pulse of Commerce Index.
Durden (ZeroHedge), Tyler, and Lee Adler (Wall Street Examiner). “The Pulse of Commerce and The Chicken’s Dilemma | ZeroHedge.” ZeroHedge | On a Long Enough Timeline the Survival Rate for Everyone Drops to Zero. The Wall Street Examiner, 13 Sept. 2011. Web. 15 Sept. 2011. <www.zerohedge.com/contributed/pulse-commerce-and-chickens-dilemma>.
Gross, Daniel. “The 18-Wheeler Recovery: What Trucking Statistics—yes, Trucking—can Tell Us about the Economy.” Slate Magazine. 13 May 2010. Web. 15 Sept. 2011. <www.slate.com/id/2253823/>.
Maio, Pat. “Trucking Activity Boosted in California by Exports.” Fleet Owner. Web 15 Sept. 2011. <https://fleetowner.com/management/news/trucking-activity-california-exports-0919>.