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Fuel Purchases * USA - Show where economy is headed
Los Angeles,CAL,USA -Today's Trucking -17 May 2010: ... Folks in trucking have known for years that the business is a leading indicator, but now a group of researchers in California based out of University of California Los Angeles (UCLA)’s Anderson School of Management has figured out how to use that very information to make money... What’s more, they’re using your fuel purchases to do so... The researchers learned they can predict the ups and downs of the national economy, by tracking credit-card fuel purchasing patterns the way a hunter reads bear spoor... In partnership with the fuel-card people Ceridian, the researchers produce the Ceridian-UCLA Pulse of Commerce Index (PCI), which can anticipate and track the federal economy by tracking OTR fuel purchases... On an hour-by-hour basis, the PCI captures data about movement in the construction, farming, development and retail sectors... The online magazine Slate wrote about the new index, and described the discovery of the tool thusly...Labels: statistics
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