Wright Express Releases Monthly Construction Fuel Consumption Index Results

Wright Express Corporation in collaboration with IHS released results of its Wright Express Construction Fuel Consumption Index, which indicated an increase of 1.4 percent in July 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 U.S.

“The results of the July 2012 Fuel Consumption Index indicate flat growth in the construction industry despite consistent year-over-year growth,” said Rick Pomerleau, vice president, corporate development at Wright Express. “The construction industry hit a speed bump in June, showing the industry is still on a slow path to recovery.”

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 index 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 July 2012, the FCI reported that fuel consumption by U.S. construction companies increased by 1.4 percent versus July 2011 and increased by 0.2 percent versus the previous month. For details, visit www.wrightexpress.com/fci.