Ceridian commerce index bucks 3-month slip

LOS ANGELES — The Ceridian UCLA Pulse of Commerce Index (PCI), a tracker of the flow of merchandise in the U.S. by measuring diesel fuel consumption, surged 2.4 per cent last month above its previous high of in May.

This was enough to make up for three consecutive months of decline.

"The latest PCI data further evidences the positive economic sentiment felt since the start of the New Year," said Ed Leamer, chief PCI economist and director of the UCLA Anderson Forecast.

The PCI saw a 4.1 per cent growth in December along with the November and October year-over-year comparison.

The PCI’s growth in December closes a very strong 2010 when compared to the previous year, but the growth is slightly higher than the average 3 per cent growth of a normal economy. This is partly credited to December’s retail sales performance.

“The holiday sales season will likely be better than last year, but potentially disappointing versus current expectations in the marketplace," a PCI November announcement states.