Don't you sometimes think you are trying to take a sip of water from a firehose? In case you felt there was not enough economic data to sift through, there is a new econometric report on the financial landscape.
The index, launched earlier this year, is based on an analysis of real-time diesel fuel consumption data from over the road trucking tracked by Ceridian Corporation. Ceridian produces the index in conjunction with UCLA Anderson School of Management and Charles River Associates. It mirrors closely the Federal Reserve's Industrial Production Index but is issued days before that index is released.
The index is built by analyzing Ceridian's electronic card payment data that captures the location and volume of diesel fuel being purchased by over the road trucking operations, providing a detailed picture of the movement of products across the United States. The thought is that goods have to be transported for an economy to grow and by monitoring the consumption of diesel fuel could provide an indication about growth.
Learn more about this interesting new index.
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