Here’s another sign of economic recovery. This chart shows the year-over-year change in vehicle miles traveled in the US.
For October, total vehicle miles traveled were up over 2% from last October, representing the biggest jump since the financial crisis. (Via Calculated Risk)
The rise is probably a combination of the economic recovery and the big decline we’ve seen in gas prices of late.
Meanwhile, the big trend in vehicle miles traveled continues to be one of a secular plateau.
For year, total car travel only went up, but for the past several years it’s moved sideways, probably due to a combination of societal shift, ageing, and gas prices. Here’s the long-term chart:
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