Wright Express Construction Fuel Consumption Index Compared With Total Construction Put-In-Place (Graphic: Business Wire)
Wright Express Corporation (NYSE: WXS), a leading global provider of value-based business payment processing and information management solutions, in collaboration with IHS, the leading global source of information, insight and analytics, today released results of its Wright Express Construction Fuel Consumption Index (FCI), which indicated a decrease of 0.3% in April versus its level the previous year.
The Wright Express Construction FCI measures national fuel consumption statistics for the construction industry, which provides an accurate and up-to-date indication of construction activity in the United States.
“Considering the seasonally-adjusted index grew by 3.9% in the previous month, the results of the April 2012 Fuel Consumption Index may be a partial correction to the unusually strong growth in March,” said Michael Dubyak, chairman and chief executive officer of Wright Express. “Meanwhile, recently released information about U.S. construction activity reflects the positive turn.”
Wright Express worked with IHS to capture and analyze transaction data from its closed loop network of more than 180,000 fuel and vehicle maintenance locations, including over 90 percent of the domestic retail fuel locations and 45,000 vehicle maintenance locations. With this data, the Wright Express Construction FCI can be used to identify emerging trends within the construction industry and the national economy.The indicators were tested at monthly, quarterly, and annual frequencies, with the greatest insights produced using the year-over-year percent change of the monthly data. For April 2012, the Wright Express Construction FCI reported that fuel consumption by U.S. construction companies decreased by 0.3% versus April 2011 and decreased by 2.8% versus the previous month. The Wright Express Construction FCI, which is available monthly in advance of the U.S. Census Bureau figures on construction spending, is available at www.wrightexpress.com/fci. Last month’s Wright Express Construction FCI showed unusually strong growth in March and accurately captured the evident general improvement reflected in the most recent government industry data. Construction spending excluding improvements – a good measure of activity – grew 0.4% in March. Total construction put-in-place, increased by 0.1% in March. Also in March, private residential construction excluding improvements rose 2.9%, while private nonresidential spending increased by 0.7%.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV