by CalculatedRisk on 12/27/2011 02:55:00 PM
The Department of Transportation (DOT) reported:
• Travel on all roads and streets changed by -2.3% (-6.0 billion vehicle miles) for October 2011 as compared with October 2010.
• Travel for the month is estimated to be 254.0 billion vehicle miles.
• Cumulative Travel for 2011 changed by -1.4% (-36.0 billion vehicle miles).
The following graph shows the rolling 12 month total vehicle miles driven.
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 47 months – so this is a new record for longest period below the previous peak – and still counting! And not just moving sideways … the rolling 12 months is declining.
The second graph shows the year-over-year change from the same month in the previous year.
This decline is probably due to high gasoline prices and the sluggish economy. Maybe habits are changing …