Wednesday, May 20, 2009

D.O.T.: U.S. Vehicle Miles off 1.2% YoY in March

by Calculated Risk on 5/20/2009 01:32:00 PM

The Dept of Transportation reports on U.S. Traffic Volume Trends:

Travel on all roads and streets changed by -1.2% (-3.1 billion vehicle miles) for March 2009 as compared with March 2008. Travel for the month is estimated to be 245.1 billion vehicle miles.
Vehicle Miles DrivenClick on graph for larger image in new window.

The first graph shows the annual change in the rolling 12 month average of U.S. vehicles miles driven. Note: the rolling 12 month average is used to remove noise and seasonality.

By this measure, vehicle miles driven are off 3.3% Year-over-year (YoY); the decline in miles driven was worse than during the early '70s and 1979-1980 oil crisis. However miles driven - compared to the same month of 2008 - has only been off about 1% for the last couple months.

Vehicle Miles YoYThe second graph shows the comparison of month to the same month in the previous year as reported by the DOT.

As the DOT noted, miles driven in March 2009 were 1.2% less than in March 2008.

Year-over-year miles driven started to decline in December 2007, and really fell off a cliff in March 2008. Although this data isn't seasonally adjusted, it appears that miles driven has stabilized.