by Calculated Risk on 11/21/2011 03:45:00 PM

The Department of Transportation (DOT) reported:

• Travel on all roads and streets changed by -1.5% (-3.7 billion vehicle miles) for September 2011 as compared with September 2010.

• Travel for the month is estimated to be 244.2 billion vehicle miles.

• Cumulative Travel for 2011 changed by -1.3% (-29.8 billion vehicle miles).

The following graph shows the rolling 12 month total vehicle miles driven.

Click on graph for larger image.

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 46 months - so this is a new record for longest period below the previous peak - and still counting! Talk about moving sideways ...

The 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.

The year-over-year decline in September wasn't as severe as in July and August, but was still negative for the seventh straight month.

Earlier:
• Existing Home Sales in October: 4.97 million SAAR, 8.0 months of supply
• Existing Home Sales: More on Inventory and NSA Sales Graph
• Existing Home Sales graphs