The latest release of the Ceridian-UCLA Pulse of Commerce Index™ (PCI) suggests that economic activity picked up in June with the seasonally adjusted index increasing 1.01% from May and rising 2.20% above the level seen in June 2010.The three month moving average of the PCI continued to went flat from May indicating that the June (released friday) Industrial Production data will likely show a similar trend.
Chief PCI Economist Ed Leamer likens the current economic circumstances to a wobbly "she loves me, she loves me not" situation with the national economic trends vacillating monthly between strength and weakness.
