Monday, July 20, 2009

Traffic Volume Increases For Second Straight Month, For the First Time in Two Years

The Federal Highway Administration reported today that travel on all roads and streets increased by by +0.1% (0.2 billion vehicle miles) in May 2009 compared to May 2008. This was the second consecutive monthly percentage increase in traffic volume compared to the same month in the previous year, following 17 consecutive monthly percentage decreases (see graph above) starting back in November 2007. Further, the monthly increases in both April and May is the first time in almost two years that traffic volume has increased two months in a row.

Green shoot? Mustard seed?

6 Comments:

At 7/20/2009 3:05 PM, Anonymous Kevin said...

Will you just stop with all this good news! I can't take it anymore. I need some negative things and fast...oh, I forgot to just turn on cable tv...

 
At 7/20/2009 3:08 PM, Anonymous Anonymous said...

Unemployed kids moving home to live with mom & dad?

 
At 7/20/2009 4:58 PM, Anonymous Anonymous said...

Kevin,

Classic!

Can you imagine almost any one of the negative posters here going back in time and witnessing Jesus walking on water? Even though they'd see it with their own two eyes, they probably wouldn't believe it. And if they DID believe it, they'd probably say, "What's the matter, Lord? Can't you swim?"

 
At 7/20/2009 9:30 PM, Anonymous Anonymous said...

Exactly. Last year we had record high gas prices and it's possible that more people are driving rather than flying.

I am perfectly happy to accept a rosier scenario - if there is reason to.

We have the specter of rising taxes and regulatory and political uncertainty freezing people in their tracks. It has certainly frozen my company. I'm not hiring at all until I know what's coming down the pike. Several companies in my business have ceased operations until they have a better idea of how much government meddling there will be and how much dis-incentive rising taxes will provide. The fact that our deficit has grown like a weed means taxes have already increased. Maybe that weed is the green shoot you're looking at.

Interest rates are at 0% in order to encourage another credit bubble.

Sorry, professor. I don't see any real growth. I'm just looking for where the next asset bubble might be growing and I fear it's the stock market. But, a rising anything doesn't have to be growth.

It may all be a mirage and I seem more arguments for a mirage than real economic growth.

 
At 7/20/2009 10:46 PM, Blogger Robert Miller said...

This comment has been removed by the author.

 
At 7/22/2009 10:33 AM, Blogger OBloodyHell said...

> And if they DID believe it, they'd probably say, "What's the matter, Lord? Can't you swim?"

And if He flew, they'd say "What now, bird imitations?"

 

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