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UCLA’s Ceridian Index is pointing to further signs of recovery (via Ceridian Index):

All signs continue to point to an economy in recovery with the latest release of the Ceridian-UCLA Pulse of Commerce Index™ (PCI) by UCLA Anderson School of Management. The July PCI climbed 1.7 percent after dropping 1.9 percent in June.

“The key takeaway from the July report is that the economy continues to recover – which is encouraging – but the pace needs to substantially pick up to put people back to work,” said Ed Leamer, chief PCI economist. “With the unemployment rate still at 9.5 percent and consumers understandably nervous about opening their wallets, it is hard to be very optimistic about economic growth. On the other hand, there is nothing about the PCI that is supportive of the pessimistic double-dip view.”

“The PCI continues to establish credibility as a reliable, relevant economic indicator, which is critical to delivering meaningful insight into the health of the economy,” said Craig Manson, senior vice president and index expert for Ceridian. “Analysts and business leaders need reliable economic data to guide them in developing economic models, forecasts and strategic plans. With the GDP Q2 figure virtually matching the PCI’s earlier projection, it’s become increasingly clear that the PCI is a timely, leading indicator that provides meaningful insight into the current condition of the economy.”

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