Friday, September 23, 2011

DOT: Vehicle Miles Driven decreased 2.5% in July compared to July 2010

by Bill McBride on 9/23/2011 05:15:00 PM

The Department of Transportation (DOT) reported today:

Travel on all roads and streets changed by -2.5% (-6.7 billion vehicle miles) for July 2011 as compared with July 2010. Travel for the month is estimated to be 261.8 billion vehicle miles.

Cumulative Travel for 2011 changed by -1.2% (-21.5 billion vehicle miles).
The following graph shows the rolling 12 month total vehicle miles driven.

Vehicle Miles Click on graph for larger image in graph gallery.

In the early '80s, miles driven (rolling 12 months) stayed below the previous peak for 39 months.

Currently miles driven has been below the previous peak for 44 months - so this is a new record for longest period below the previous peak - and still counting!

Vehicle Miles Driven YoYThe second graph shows the year-over-year change from the same month in the previous year. The current decline is not as a severe as in 2008, but this is significant.

With the slowdown at the end of July and in August, miles driven will probably decline further in August.

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