The latest release of the Ceridian-UCLA Pulse of Commerce Index™ (PCI) suggests that economic activity slowed slightly in April with the seasonally adjusted index declining .50% from March but remaining 3.45% above the level seen in April 2010.Further, the three month moving average of the PCI continued to climb from March indicating that the March (next week) Industrial Production data will likely show a similar trend.
Chief PCI Economist Ed Leamer calls the latest trend "wobbly and muted" and suggests that while growth is still occurring, the trends are weak.
