February's PCI rate is down, but economists are still hopeful for a recovery

The Ceridian-UCLA Pulse of Commerce Index (PCI) reports that an economic recovery is still underway, albeit slowly. The PCI, which is based on fuel purchases, decreased by 1.5 percent last month, which followed a 0.3 percent decrease in January.

However, Trucking Info reports that although these numbers may be discouraging, analysts still believe that a recovery is underway, despite the most recent reports. Ed Leamer, the chief PCI economist and the director for the UCLA Anderson Forecast, told the news provider that he believes it will continue to grow at the "normal" rate of 3 percent.

Some analysts were quick to point out that if fuel prices continue to spike, there may be a snag in the overall recovery.

"February's spike in diesel fuel prices to well over $3 a gallon likely did not drive the weakness in the PCI this month," explained Craig Manson, senior vice president and index expert for Ceridian. "However, if the trend persists, higher prices will likely have an impact in the coming months as consumers are robbed of spending power."

Those who are looking to learn more about how they could save money with fuel efficiency may want to consider enrolling in online truck driver training courses.

February's PCI rate is down, but economists are still hopeful for a recovery

Thursday, March 10th, 2011