Traffic Volume Increases in June For Third Straight Month, First Time in Almost Three Years
The Federal Highway Administration reported today that travel on all roads and streets increased by +2.0% (0.2 billion vehicle miles) in June compared to June 2008, the largest monthly increase since October of 2006 (see graph above). This was the third 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 traffic volume in April, May and June mark the first time in almost three years that traffic volume has increased three months in a row. The increase in June traffic volume probably reflects the combination of lower gas prices and a pickup in economic activity.
Originally posted at Carpe Diem.