While government manipulated data (such as non-farm payrolls mysteriously dropping 1.2 million people from the workforce) continue to show signs of improvement, other private sector indicators show weakness. One such indicator is the Cerdian-UCLA Pulse of Commerce Index
which looks at diesel fuel purchases throughout the US. The index was down 1.7% last month and is down 2.2% from a year ago. As Of Two Minds mentioned
last week gasoline consumption has also been decreasing.
For those of you who also thing that it may just be because railroad shipments are up Genesee
& Wyoming reported
an 11.9% drop in shipments from a year ago.