by Bill McBride on 11/29/2010 05:49:00 PM
Monday, November 29, 2010
The Department of Transportation (DOT) reported that vehicle miles driven in September were up 1.5% compared to September 2009:
Travel on all roads and streets changed by +1.5% (3.7 billion vehicle miles) for September 2010 as compared with September 2009.Click on graph for larger image in new window.
Cumulative Travel for 2010 changed by +0.5% (11.1 billion vehicle miles).
This graph shows the rolling 12 month total vehicle miles driven.
On a rolling 12 month basis, vehicle miles driven have only increased slightly from the bottom of the recession.
Miles driven are still 1.6% below the peak in 2007. This is another indicator of a sluggish recovery. And this report was for September when oil prices were in the mid $70s per barrel. Oil prices moved up to the mid $80s today, and that might impact miles driven in December.
Posted by Bill McBride on 11/29/2010 05:49:00 PM