Traffic Volume Reaches 21-Month High in July; Highest July Travel Volume on Record
The Federal Highway Administration reported today that travel on all roads and streets in the U.S. increased by +0.8% in July 2010 compared to the same month last year. Total travel for the month of July was an estimated 270 billion vehicle miles, the highest travel volume for the month of July on record. On a moving 12-month total basis, the annual vehicle-distance traveled through July was 2,983 billion miles, the highest 12-month total since September 2008, 22 months ago (see chart above).
Following a sharp decline in traffic volume that coincided almost perfectly with the recession that started in December 2007 and ended in June 2009 (it's now official,
see shaded area in chart), the economic recovery that started last summer has been accompanied by a gradual increase in traffic volume as both personal and commercial travel on U.S. roads and highways have rebounded.
4 Comments:
Looks like Dr Perry was correct:
Economic panel says recession ended in June 2009
September 20, 2010
The National Bureau of Economic Research, a panel of academic economists based in Cambridge, Mass., said the recession lasted 18 months. It started in December 2007 and ended in June 2009. Previously the longest postwar downturns were those in 1973-1975 and in 1981-1982. Both of those lasted 16 months.
before we pop too many champagne corks, it may be worth remembering that these same guys said the recession ended in 1933. i'm sure that came as a great relief to those enduring the rest of what is commonly referred to as the great depression.
I moved from Boston back to the Detroit area in October 2008. I was amazed at the lack of traffic in the mornings on I-75 between Clarkston and Troy. I was making it from my house in Holly to Troy in 40 minutes. Friends said traffic was definitely much lighter over the past few years. Over the month of August this summer, traffic got progressively heavier and heavier. The old 40 minute drive is now closer to an hour. I am actually RELIEVED to have traffic to drive it - it means more people are going to work again!
Libby E. Liebig
If I look at total miles driven (2.98 trillion/yr) and divide by new car sales (12 million/yr), I calculate that we are driving 248,000 miles/new car sold. Since the average life expectancy of a car is ~202,000 miles (http://www.arb.ca.gov/regact/grnhsgas/vmt.pdf), this means we have been depleting the inventory of cars in America by about 2.75 million/yr (should consume about 14.75 million cars/yr).
Post a Comment
<< Home