Ceridian launches innovative, real-time indicator of economic strength
From the February 2010 issue of Ceridian Connection.
| In partnership with the ULCA Anderson School of Management, Ceridian Corporation has launched the groundbreaking Ceridian-UCLA Pulse of Commerce Index, This first of its kind U.S. economic indicator has been described by one analyst as "closer to real time than anything else." The new indicator can actually anticipate and closely track the Federal Reserve's monthly industrial production number. Every day across the United States, over-the-road trucks purchase diesel fuel as they move goods ranging from produce to raw materials to finished products. If data about those fuel purchases could be captured and analyzed, the data would tell a compelling story about the status and possible direction of the U.S. economy. Ceridian, through its electronic card payment services for the transportation industry, processes millions of fuel transactions used for the over-the-road movement of goods. Now Ceridian is leveraging the data from that real-time fuel consumption to provide a startling new glimpse into the American economy. | January 2010 Pulse of Commerce Index
Results from the Ceridian-UCLA Pulse of Commerce Index by UCLA Anderson School of Management show the U.S. economy fell in January after a significant increase in December. The index fell at an annualized rate of 36.8 percent. The more reliable three-month moving average for January managed to show a 3.3 percent gain at an annualized rate following the exceptional annualized rate of 14.6 percent in the previous month.  More on January 2010 Pulse of Commerce Index | |||||||||||||||||||||||
| Here's how it works. Every time an over-the-road truck makes a diesel fuel purchase using a Ceridian card, Ceridian's database captures the location and number of gallons pumped into the tank. A Ceridian database records truck traffic on all the major highways in the United States, around cities and border crossings with Canada and Mexico, and at shipping ports and airports. The data is then analyzed to provide a detailed picture of the movement of goods on an hour-by-hour basis.
Some economic indicators have a lag time or are based only on surveys of business leaders' attitudes. The Ceridian-UCLA Pulse of Commerce Index is based on real-time, actual consumption data that provides fact-based insight into the economy well before the Federal Reserve's monthly industrial production number is issued. As the index changes, it offers real comparisons to past performance and captures an evolving picture of what has happened, while providing a sense of the direction in which the U.S. economy is headed. Businesses, manufacturers, retailers and municipalities use this index to help them determine business strategy and future plans. The Ceridian-UCLA Pulse of Commerce Index is one of the most important new economic indicators to watch. Read what the financial media and bloggers are saying about the Ceridian-UCLA Pulse of Commerce Index: The Fed Should Have Listened To The Truckers Measuring the economy one credit-card swipe at a time Truckers' spending to gauge economy's health Ceridian trucking index hints at slow growth New Ceridian-UCLA Pulse of Commerce Index sees gloom Truckers index drives US GDP fears U.S. fuel survey suggests slow economic recovery Revving trucks, revving business Ceridian touting fuel sales-based economic index Diesel fuel consumption as an economic indicator Fuel-Consumption Data Indicate Weak Growth |
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